Here’s a look into one of Washington Capital Partners’ recent Washington D.C. fix and flip loans. Our borrower, Virginia, contacted Washington Capital Partners with this Petworth rowhome. She found this three-bedroom, one-bathroom home almost fully-gutted from the previous owner whose remodeling plans came to a halt. Just minutes away from a metro station, in the highly-desired neighborhood, she could see right away that this deal was absolutely perfect for a fix-and-flip opportunity.
Virginia brought this deal to Washington Capital Partners and we funded 80% LTC (Loan-to-Cost = purchase + construction) plus 100% of the rehab costs for this deal. Our borrower got right to work on the rehab and preformed a thorough upgrade on the property, making it a four-bedroom, three-bathroom home. The major upgrades include making it a four-bedroom, three-bathroom home, stainless steel appliances, a patio, and a deck.
Virginia did an amazing job transforming this property into one of our favorites. As someone with a full-time job, while investing on the side, Virginia collected an estimated profit of $80,000 on this Petworth flip.
Check out what her rowhome looked like before it was totally renovated!