Flipside Lending closed a $240,600 acquisition and rehab loan for a single-family home located at in Sanford, North Carolina. The property is a 1,629 square foot, 3-bedroom, 2-bath home with a two-car garage situated on a corner lot in the desirable Carolina Trace Golf Course community. Residents enjoy access to amenities including tennis courts, a lake, and golf in the Sandhills region just south of Raleigh.
The sponsor is a seasoned investor and general contractor with extensive experience in North Carolina residential projects. Their business plan includes light renovations to modernize and reposition the property, which was acquired for $218,670, with an expected after-repair value of $350,000.
Flipside structured the loan at 85% LTC and 70% LTARV, including $64,400 in rehab financing, to provide the sponsor with the capital needed to complete the project while maintaining conservative risk management.
This transaction highlights Flipside’s ability to support experienced operators with targeted fix-and-flip strategies in strong suburban markets.
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