Fix-and-flip properties have long been an attractive strategy for real estate investors, and in Pennsylvania, the market has proven to be incredibly profitable for those who know where to look. Meet John Miller, an experienced investor from Philadelphia who recently completed a successful fix-and-flip project in Northeast Philly. With the help of Prospera Real Estate Loans, John turned a distressed property into a lucrative return of 35% in under 12 months.

The Property
John purchased a 3-bedroom, 2-bathroom home in Northeast Philadelphia for $150,000. The property had significant cosmetic damage, but the location was prime, near a growing job market and within walking distance of public transport. With similar properties in the neighborhood selling for $250,000 post-renovation, it was clear this property had potential.

The Renovation
With a renovation budget of $50,000, John worked with a local contractor to upgrade the kitchen, bathrooms, and landscaping, while also addressing structural issues like a cracked foundation. The repairs were completed on time, and the property was listed for $255,000 after the renovation.

Financing the Project
Using a Prospera Real Estate Loans Fix and Flip Loan, John was able to secure 90% financing for the purchase and renovation costs. The loan amounted to $135,000, with a 10% down payment of $15,000. The interest rate was competitive at 7.5%, with a loan term of 12 months.

Target areas with consistent demand, such as near transportation hubs or expanding job centers.

Work with reliable contractors and keep renovation costs on track.

Use  Prospera’s Fix and Flip Loan to leverage your investment and maximize returns.

Results

Navigating local regulations and zoning laws can be difficult. Differences in building codes and property laws across municipalities can create compliance challenges. Investors must stay aware of the legal landscape to avoid potential pitfalls that could delay projects or incur extra costs.

Contact Us for Top Lending Options

Are you ready to elevate your real estate investments in Mississippi? Don’t navigate the complexities of financing alone. Call Prospera Real Estate Loans today at 1-888-908-8556 for expert loan advice tailored to your needs.

If you prefer, you can also request a quote by visiting our website: Request a Quote.

Let us help you achieve your investment goals with confidence!