Loan amount
$210,000
Loan type
Purchase
{Construction}
After Repair Value
$400,000
{PP:$120,000}
ARV
53%
{ARV}
Property type
Other Commercial
Borrower Details
Credit score
720
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Portsmouth
State
Virginia
Loan Details
Purchase price
$120,000
Down payment
$60,000
Cost of improvements
$150,000
Estimated property value after repairs
$400,000
Additional Loan Information
I Have a commercial building that I currently have a contract on that we're looking to renovate and turn into a daycare center. I have been running a in home daycare for the past 12 years and have maintained full enrollment for the majority of those 12 years we have been operating at full capacity since last May and only had a brief interruption at the beginning of the pandemic in March of 2020. The location is ideal because it will allow me to bring all 10 of my children over so that the enrollment will not have to start from scratch
Status
Open
Created
July 21, 2021 - 4:29pm
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