4907 Hatteras Dr — Investment Memorandum

01 — Investment Summary

The Opportunity

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Front exterior — street view

Investment Strategy

Barracuda Investments is acquiring 4907 Hatteras Drive — a well-maintained 4-bedroom, 3-bathroom single-family home built in 2006 — for a targeted light cosmetic renovation. The plan is to update finishes throughout, replace the back deck boards (the only meaningful capital expenditure item), and list the property on the MLS for a retail sale to an end homebuyer within approximately 3 months.

The property requires no structural work, foundation repair, roof replacement, or major mechanical upgrades — just cosmetics. We have a contractor already scoped and lined up for the project, and a listing agent engaged on the back end to oversee project management and execute the MLS listing at completion.

Deal Highlights

Built in 2006 — no major deferred maintenance; all systems in functional condition

Only major capex: back deck board replacement — everything else is cosmetic renovation

Contractor already scoped and lined up — no vendor search risk or lead time

Listing agent engaged for backend project oversight and immediate MLS listing at completion

$79,000 gross equity spread from day one (ARV − Purchase Price − Rehab)

Hard money financing at 95% LTC — in active conversations with three lenders used on prior deals

Property Details

Year Built 2006

Bedrooms 4

Bathrooms 3

Garage 2-Car Attached

Property Type Single Family

Market Columbia, MO

Project Timeline

Acquisition & Financing

Week 1 — Close with HML financing

Renovation

Weeks 2–8 — Light cosmetic renovation

Stage & List on MLS

Week 9 — Professionally staged and listed

Close & Repay Investors

~Month 3 — Sale closes, full repayment

Equity at Purchase

After Repair Value $360,000

Purchase Price ($236,000)

Rehab Budget ($45,000)

Gross Equity Spread $79,000

The Ask

Full breakdown in Calculations below

$27,000 in Gap Funding

This is a short-term gap funding loan for a fix and flip. A hard money lender (HML) will fund 95% of total acquisition and renovation costs ($266,950). The remaining $32,037 in total required cash is what bridges the deal — we're raising $27,000 of that, with Barracuda covering the balance. HML financing isn't locked in yet; we're currently in active conversations with three lenders we've used on prior deals. See the Calculations section below for the full $32,037 breakdown.

Your $27,000 covers the majority of the $32,037 total cash required — HML covers everything else

Personal loan — secured by Jordyn's personal guarantee and $50k+ in personal liquidity

$28,313 projected net profit — more than enough to repay your principal + interest at close

6-month max term, no prepayment penalty — repaid at sale close (expected month 3)

You're Lending

$27,000

Portion of $32,037 total cash required

Monthly Return

Compounded monthly

At 3-Month Exit

~$2,504

Net gain / 9.3% total return

Backstop

$50k+

Personal liquidity · personal guarantee

02 — Return Logic

Full Deal Calculation

Complete line-item breakdown of all acquisition, financing, holding, and selling costs.

Total Cash Invested

$32,037

Net Profit

$28,313

Cash-on-Cash ROI

88.4%

Yield on Cost

10.1%

Acquisition Costs

Purchase Price	$236,000
Rehab Budget	$45,000
Buy-Side Closing Costs (1.5% of PP)	$3,540
Total Project Cost	$284,540

Hard Money Financing

Loan-to-Cost (LTC)	95%
Loan Amount (95% × $281,000)	$266,950
Origination Fee (2% of loan)	$5,339
Interest Rate	10.5% (IO)
Monthly Interest-Only Payment	$2,336

Monthly Holding Costs × 3 months

Monthly IO Debt Service	$2,336
Property Taxes	$200
Insurance	$250
Utilities	$250
Monthly Total	$3,036
Total Holding (3 months)	$9,108

Selling Costs

Loan Payoff (IO — full balance)	$266,950
Sell-Side Closing Costs (1%)	$3,600
Realtor Commissions (6%)	$21,600
Seller Concessions to Buyer	$5,000
Professional Staging	$2,500
Total Selling Costs	$299,650

Total Cash Required

Purchase + Rehab	$281,000
Less: Hard Money Loan	($266,950)
Net Equity Contribution	$14,050
+ Origination Fee (2% of loan)	$5,339
+ Buy-Side Closing Costs (1.5%)	$3,540
+ Total Holding Costs (3 mo)	$9,108
Total Cash Invested	$32,037

Profit Summary

Sale Price (at ARV) $360,000

Less: Total Selling Costs ($299,650)

Less: Total Cash Invested ($32,037)

Net Profit $28,313

Cash-on-Cash ROI 88.4%

Yield on Total Cost 10.1%

Passes All Underwriting Targets

03 — Renovation Plan

Rehab Budget

Contractor Labor

$29,000

Locked bid — contractor scoped & retained

Client Materials

$13,564

Itemized below — all priced & sourced

Total Rehab Budget

$42,564

$45,000 conservative used in underwriting

Client-Supplied Materials — Line Item Budget

Item	Qty	Unit $	Total
Interior Finishes
Paint — walls, ceilings, trim, doors, jambs (int + ext)	2,600 sqft	$1/sqft	$2,600
LVP Flooring — main floor + basement	2,100 sqft	$2/sqft	$4,200
Carpet + Pad — main floor bedrooms + basement stairs	500 sqft	$2.50/sqft	$1,250
Interior Doors	10	$125	$1,250
Kitchen
Cabinet Refinish Paint	1 kitchen	$100	$100
Cabinet Pulls + Handles	1 set	$200	$200
Kitchen Faucet	1	$50	$50
Bathrooms (3 Full)
Vanities	3	$300	$900
Faucets	3	$50	$150
Showerheads	3	$50	$150
Light Fixtures	3	$50	$150
Hardware (towel bar, TP holder, etc.)	3 baths	$35	$105
Living, Dining & Bedrooms
Living Room + Dining Room Light Fixtures	2	$50	$100
Ceiling Fans (all 4 bedrooms)	4	$150	$600
Closet Shelves + Rods (broken replacements)	2	$30	$60
Whole-House Hardware & Safety
Doorknobs + Deadbolts (int + ext)	~per 1,000 sqft	$200	$520
Doorstops	~per 1,000 sqft	$15	$39
Vent Covers	15	$10	$150
Miniblinds (20 windows)	20	$15	$300
Smoke + CO Detectors	~per 1,000 sqft	$150	$390
Exterior
Deck Stain/Paint	1 deck	$300	$300
Materials Subtotal			$13,564
+ Contractor Labor (locked bid)			$29,000
Total Rehab Budget			$42,564

Contractor Scope of Work — Summary

Pre-Work Assessments & Mechanical

Identify and repair basement bathroom ceiling leak (source already exposed). Repair kitchen sink leak. Assess and service furnace; replace if needed with client approval.

Demolition & Site Cleanup

Remove all existing flooring (main floor + basement), damaged doors/jambs/baseboards, all baseboard heaters (capped), damaged deck boards, interior junk, and backyard overgrowth.

Drywall Repair & Carpentry

Skim coat and patch all drywall throughout (including behind heaters and open bathroom ceiling). All surfaces smooth and paint-ready. Install new door jambs and doors.

Kitchen

Sand and refinish (paint) kitchen cabinets — min 2 coats. Install client-supplied cabinet pulls, handles, and faucet.

Bathrooms — 3 Full

Remove and replace all vanities, faucets, and light fixtures in all 3 bathrooms. Replace all showerheads. Install bath hardware.

Whole-House Fixtures & Hardware

Install new ceiling fans (4 bedrooms), light fixtures (LR + DR), doorknobs and deadbolts throughout, doorstops, vent covers, miniblinds (20 windows), and smoke/CO detectors.

Paint — Full Interior

Full prep: remove anchors, fill all holes, prime. Paint all walls, ceilings, trim, baseboards, doors, and jambs throughout. Min 2 coats, full coverage. Exterior door trim where needed.

Flooring — Final Phase

Install LVP throughout main floor + basement. Carpet + pad in 3 main-floor bedrooms and basement stairs. New baseboards and quarter round at all walls throughout.

Exterior

Install replacement deck boards and paint deck. Repair both fence gates. Clean front bed: remove overgrowth, trim trees, lay fresh mulch. Replace all window screens.

Note — Contractor-Supplied Items

Switch and outlet covers (standard white), window screens, fence gate hardware, mulch, and all lumber for deck board replacement are contractor-supplied and included in the $29,000 labor bid. No additional materials cost for these items.

04 — Market Evidence

Comparable Sales

Recent closed sales in the immediate area directly supporting the $360,000 ARV. All comparables sourced from the MLS.

Avg. Sold Price

$364,835

Avg. $/Sq Ft

$128

Avg. Days on Market

1.8

Our ARV vs Comp Avg

Conservative

$360k vs $364,835 avg

#	Address	Beds/Baths	Sq Ft	Sold Price	$/Sq Ft	DOM	List Price	Sale Date
1	1400 Carolina Dr, Columbia MO	4 / 3	2,824	$354,110	$125	0	$350,000	Apr 30, 2025
2	5200 Hatteras Dr, Columbia MO	4 / 3	2,947	$351,900	$119	0	$359,900	May 29, 2025
3	1513 Tide Water Dr, Columbia MO	5 / 4	2,707	$362,500	$134	2	$362,500	Jul 17, 2025
4	5106 Hatteras Dr, Columbia MO	5 / 4	2,871	$375,000	$131	3	$375,000	Jul 25, 2025
5	1902 Longstreet Dr, Columbia MO	4 / 3	2,994	$375,000	$125	5	$355,000	Feb 12, 2026
6	5006 Chesapeake Ln, Columbia MO	4 / 3	2,760	$370,500	$134	1	$350,000	May 11, 2026
Comparable Average (6 comps)				$364,835	$128	1.8	$358,800
⭐ Subject — 4907 Hatteras Dr (Target ARV)				$360,000	~$130	—	Conservative vs $364,835 comp avg

Source: Columbia MLS via Barracuda Investments / Boulevard Realty. All comps are 4-bed, 3+ bath SFR ranches built 2001–2005 within the immediate neighborhood. 5003 Chesapeake Ln (116 DOM) excluded as an outlier.

05 — Investment Structure

The Ask Details

Short term gap funding loan for a fix and flip with high returns.

Raise Amount

$27,000

Monthly Return

Compounding

Monthly

Max Term

6 Mo

Prepay Penalty

None

Guarantee

Personal

Compounding Schedule — $27,000 @ 3%/mo

Month	Balance	Interest	Total Gain
Month 0 (funding)	$27,000	—	—
Month 1	$27,810	$810	$810
Month 2	$28,644	$834	$1,644
Month 3 Expected Exit	$29,504	$860	$2,504
Month 4	$30,389	$885	$3,389
Month 5	$31,300	$911	$4,300
Month 6 (max term)	$32,239	$939	$5,239

Interest compounded monthly. Repayment = full principal + all accrued interest at payoff date.

Loan Structure

Instrument

Personal Loan with Personal Guarantee from Jordyn Gegg

Use of Funds

Down payment gap not covered by hard money lender + project holding costs

Repayment Trigger

Upon sale close — principal + all compounded interest returned in full

Early Repayment

No prepayment penalty — capital can be returned at any time

Backstop Protection

In the unlikely event the property doesn't sell before the 6-month term expires, Jordyn maintains approximately $50,000 in personal liquidity — well more than enough to guarantee timely, full repayment of principal and all accrued interest regardless of market conditions.

Return Comparison — 3-Month Period on $27,000

High-Yield Savings (5% APY)

$337 1.2%

S&P 500 (avg 3-mo return)

~$675 ~2.5%

Barracuda Investment

$2,504 9.3%

06 — Track Record

Operator Experience

Barracuda Investments is operated by Jordyn Gegg — a Columbia, MO-based real estate investor with hands-on experience across multiple exit strategies and markets.

@jordyngegg Jordyn Gegg

Total Deals

Flips Completed

$220k+ gross spread

BRRRR Portfolio

Holding / refi pipeline

Active Deals

$1.35M+ in combined ARV

1517 Rosemary Ln

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Sold

Flip Touch-Ups

Purchase

$585,000

Gross Profit

$85,000

11501 Spiros Dr

Columbia, MO · Condo

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Flip Light Const.

Purchase

$168,150

Gross Profit

$47,850

1807 Boyd Ln

Columbia, MO · SFH

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Flip Trashout

Purchase

$62,000

Gross Profit

$32,500

207 Maplewood Dr

Columbia, MO · SFH

Sold

Flip Trashout

Purchase

$115,000

Gross Profit

$30,000

1903 Boyd Ln

Columbia, MO · SFH

Sold

Flip Trashout

Purchase

$82,000

Gross Profit

$25,000

1323 Anthony St

Columbia, MO · Duplex

Holding

BRRRR Heavy Const.

Purchase

$175,000

Current Value

~$650,000

515 High St

Columbia, MO · SFH

Holding

BRRRR Heavy Const.

Purchase

$160,000

Current Value

~$380,000

1504 Parkade Blvd

Columbia, MO · Quadplex

Holding

BRRRR Value-Add

Purchase

$240,000

Cash-Out Refi

Planned EO 2026

1424 Devonshire County Dr

Wentzville, MO · SFH

Active

Flip Light Const.

Purchase

$255,000

Proj. Profit

~$95,000

1308 Anthony St

Columbia, MO · Multifamily

Active

BRRRR Heavy Const.

Purchase

$687,000

Target ARV

$1,000,000

4907 HATTERAS DRIVE

The Opportunity

Investment Strategy

Deal Highlights

$27,000 in Gap Funding

Full Deal Calculation

Rehab Budget

Comparable Sales

The Ask Details

Operator Experience

Ready to Invest?