Loan amount
$370,500
Loan type
Purchase {Fix&Flip}
After Repair Value
$442,000 {PP:$380,000}
ARV
84% {ARV}
Property type
Single Family
Borrower Details
Credit score
610
Deal experience
None
This loan scenario was submitted by a Broker
Yes
Property Details
City
Fleming Island
State
Florida
Loan Details
Purchase price
$380,000
Down payment
$10,000
Cost of improvements
$500
Estimated property value after repairs
$442,000
Additional Loan Information
The house that I am currently renting was told to me that they would sell it to us for $380000. My wife and I have bought another house that she wanted. I have already gotten with a opendoor and they have offered $442000 for the house the way it sets with ZERO repairs. Also, because the market is so hot here right now every house that has gone up for sale in my area has sold within the first day at asking price. I use to flip houses and if a few things were done on this it could easily sale like the same floor plan down the street for $495000, but I am not wanting to do anything extra if we do not have too. I was trying to find either the loan for it or just a finder and fee and pass it on. Then I was thinking that the owner of the house if they realize that the market is so hot down here that they might not honor the $380000 price that they quoted me and want more. Therefore, that is why I am reaching out trying to find a lender for a 30-45 quick sell loan.
Status
Created
April 2, 2021 - 8:36am

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