Loan amount
$73,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$140,000
{PP:$50,000}
ARV
52%
{ARV}
Property type
Single Family
Borrower Details
Credit score
625
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Cedar Rapids
State
Iowa
Loan Details
Purchase price
$50,000
Down payment
$2,000
Cost of improvements
$25,000
Estimated property value after repairs
$140,000
Additional Loan Information
Foreclosed 4/2. Appears to be mostly cosmetic needs. Planning to rehab into mid priced starter home. Still just looking, want to secure financing prior to making an offer. My husband and I own our own business but have always wanted to expand into real estate. There is a lot of room in this project to make a solid profit and jump start our real estate dreams.
Status
Open
Created
April 29, 2021 - 1:59pm
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