In today’s installment of our #17loans17days blog retrospective, we travel to Carrollton, GA for another project by borrower Dustin Cole.
You’ll remember from Loan #6: 128 Morgan Drive that Ben, our VP of Customer Operations met Dustin at our favorite coffee shop on Piedmont Road. We already knew Dustin was a pro at real estate investing and flipping houses, so we were eager to partner on another project. When he told us about the project at 38 Highland Court, we both set to work.
It wasn’t long before the $67,000 loan went live with a rate of 11.6% over 12 months, on October 16. Dustin has plans for this project to be a quick flip requiring only minor repairs. The 5 bedroom, 3.75 bath home is in an established neighborhood in Carrollton only minutes from the University of West Georgia. Dustin hopes to have the home sold by Fall 2015 - just in time for a holiday gift of repayment to the 105 lenders who funded the loan.
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