• Property built as new construction in 2005
• Individual condos were selling in the range of $450,000-$500,000
• As-is value approximately $100 per sq.ft.  units averaging 1,200 sq.ft per unit.
• 6 of 8 units were recently foreclosed
• Borrower has recently acquired 3 units and has another pending closing.
• Experienced Borrower / Developer
• Good credit

Property Information

• Collateral: 423 Parkway Drive Unit #2 Atlanta, GA 30308
• Additional Collateral: 419 Units #3, #4 & 423 Unit #1 Parkway Drive Atlanta, Georgia 30308

Purpose & Structure:

1. Borrower is planning to finalize a 6 units purchase within 2 separate buildings.  Each building has 4 units.  Borrower has purchased 3 units Cash (approximately $150,000); Units 3 and 4 in building 419 and Unit 1 in building 423.

Borrower desires financing in building 423 for remaining Units 2, 3, and 4 and possibly recoup cash on a unit or two he has already purchased.  The loan however would encumber the entire building 423 and 2 units in 419.

1. Borrower desires financing of renovation cost for all 6 units.  Estimated 135K.

Action Plan: Purchaser plans to make units rent ready, improve minor landscaping and gate repair in common area, and will then rent them for average market rates of $1,000 per unit.  He will also pursue selling them individually.  HFCG will set a sales release provision to exit out upon pay off of first 1-2 units.

Comment:

• Excellent Loan to value
• Borrower has great credit
• The additional collateral that we are taking has rent of $850

Exit Plan:

• Sale or Refinance. Borrower has excellent credit

Contact at Highland Financial Capital Group, LLC.

Alan Ovdat

Phone: 770-730-1707

Mobile: 404-831-6518

Fax: 770-730-1708

Email: alan@highlandfinancialgrp.com