Loan amount
$46,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$200,000
LTV
23%
{LTV}
Property type
Single Family
Borrower Details
Credit score
610
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Chiloquin
State
Oregon
Loan Details
Current mortgage balance
$20,600
How much cash-out are you looking for?
$25,000
Additional Loan Information
Planned improvements on the property would increase value over 150% in accordance with neighboring property values and projection. Plan is to build a cottage cluster (allowed per regulations if certain criteria are met). Once complete we would sell the dwellings individually generating multiple lump sum returns. We would maintain ownership of the property forming an HOA and collecting monthly lot/space rent in addition to the already collected sum generated by sale of each dwelling. Investment goal is 200,000 total return from sale of individual dwellings and receive a monthly revenue of 2500-3500 prospectively for a duration of 10-30 years. Total forecasted investment return projected to be at least 450,000 within 10 years.
Status
Open
Created
August 13, 2023 - 9:15am
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