FIX AND FLIP LOAN
Spring Lake, MI
BEFORE
AFTER
The Numbers Behind the Flip*
Project Duration
July 2022 - February 2023
Loan Amount
$107,855
Purchase Price
$152,000
Construction Budget
$44,100
Client Contribution
$88,245
Total Project Cost
$196,100
ARV
$225,000
Resale Price
$245,000
*At the time of initial funding
In July 2022, Barnett REI Finance provided a $107,855 loan to fund a Michigan fix and flip project. The purchase price was $152,000 and it had a $44,100 renovation budget. The borrower took on a nine-month loan but ended up needed a few extra months and paid off in February 2023. The property was originally projected to have an ARV of $225,000, but sold for $245,000, outperforming expectations. This project highlights how even modest budgets, when managed well, can unlock significant value and turn a flip into an above market success.
Profitability & Lessons Learned
Inside the Deal
BEFORE
AFTER
BEFORE
AFTER
BEFORE
AFTER
BEFORE
AFTER
BEFORE
AFTER
516 5th St
