Loan amount
$17,450,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$180,000,000
{PP:$12,500,000}
ARV
10%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
710
Deal experience
12 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Washington
State
Virginia
Loan Details
Purchase price
$12,500,000
Down payment
$50,000
Cost of improvements
$5,000,000
Estimated property value after repairs
$180,000,000
Additional Loan Information
We own one property that needs rehab and we are looking to purchase another and then rehab. We are going to convert them both to an inpatient/outpatient drug/alcohol rehab facility. We are considering either the investor have 50% equity in the business and property ownership, or we would be happy with a high interest loan. The 12.5mil is broken down as follows:
$1.5mil - payoff current debt now
$5.5mil - Purchase second property and rehab both buildings
$2.5mil - Furnish and Stock buildings along with Electronic Medical Records
$3mil - 2 months worth of expenses while business stabilizes once it opens
Conservative pro forma shows a net annual income of $18,000,000. Once we get it stabilized, if we sold it at a 10% cap, that would be $180,000,000.
Feasibility and Pro Forma report available.
$1.5mil - payoff current debt now
$5.5mil - Purchase second property and rehab both buildings
$2.5mil - Furnish and Stock buildings along with Electronic Medical Records
$3mil - 2 months worth of expenses while business stabilizes once it opens
Conservative pro forma shows a net annual income of $18,000,000. Once we get it stabilized, if we sold it at a 10% cap, that would be $180,000,000.
Feasibility and Pro Forma report available.
Status
Open
Created
January 21, 2021 - 1:41pm
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