Loan amount
$380,000
Loan type
As-Is Property Value
$400,000
LTV
95%
{LTV}
Property type
Apartment building
Borrower Details
Credit score
800
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
Looking for investment rental properties to see what the responsibilities are for me as an investor looking for a hard money lender. Not currently in contract. I have about $20K to put down. Currently looking in Rochester NY, Poughkeepsie NY, Albany NY, and Newark NJ.
Here are some of the properties I am consider:
1) $540,000 -12 unit occupancy is only at 25% . Some units need work -ARV Each unit will be worth $275,000
2) $950,000 with a NOI of $95,134 Cap rate 10.29%
3) $399,000 Cap rate 7.5% NOI $30,000
4) $124,000 Cap rate 13.32%
There are at least 8 more that is the general idea of what I’ve been looking at. What I am doing is trying to figure out what my options are before I start talking to anyone or putting in offers. I want to know what I am able to do or not able to do.
Here are some of the properties I am consider:
1) $540,000 -12 unit occupancy is only at 25% . Some units need work -ARV Each unit will be worth $275,000
2) $950,000 with a NOI of $95,134 Cap rate 10.29%
3) $399,000 Cap rate 7.5% NOI $30,000
4) $124,000 Cap rate 13.32%
There are at least 8 more that is the general idea of what I’ve been looking at. What I am doing is trying to figure out what my options are before I start talking to anyone or putting in offers. I want to know what I am able to do or not able to do.
Status
Closed
Created
October 25, 2019 - 11:46am
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