The following are examples of renovation or new construction loans associated with our loan fund, Avondale Private Lending. Each of these residential properties in the Dallas-Fort Worth area was renovated or built new by someone who borrowed money from Avondale Private Lending.
This amazing renovation in the Lake Highlands area of Dallas required a $390,000 purchase and $250,000 renovation loan. The house sold in November 2017 for over $900,000. The loan-to-value ratio was 71%.
This property in the Sparkman Club Estates area of Dallas was stripped down to the studs and renovated with a $160,000 renovation budget. Our borrower utilized a purchase / renovation loan for $395,000 and the loan was refinanced. The loan-to-value ratio was 65.9%
The amazing renovation in the Lake Highlands area of Dallas required a $380,000 purchase and $350,000 renovation loan. The house sold in September 2018 for $990,000. The loan-to-value ratio was 73%.
La Vista Drive
Construction on this home started in February 2018. The house has a transitional design with impressive views of a putting green on the Lakewood Country Club golf course. Our borrower utilized a $1 million new construction loan and the house is under contract for $1.4 million. The loan-to-value ratio was 71%.