Loan amount
$80,000
Loan type
As-Is Property Value
$200,000
LTV
40% {LTV}
Property type
Single family home
Borrower Details
Credit score
797
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Wyoming
Loan Details
Additional Loan Information
Plan to buy this place, remove the dilapidated builds that sit on it. Buildings are a garage with no siding and a single wide, both can be dismantled with ease and get the house to pass a conventional loan inspection. Once completed, build a horse barn on it and rent for 1200 a month or sell for 250,000. All can be done in one year. The plus side to this is I'm a retire Air Force Civil Engineer and I live next door. The bid starts at $74,000; I want to bid $75,000 and be able to go $80,000 max. Renovation budget $70K. ARV $170-220K. Property located in Cheyenne, Wyoming. Flexible on loan term. Just need enough time to renovate, then I can refinance with a conventional or VA loan.
Status
Created
March 28, 2020 - 12:34pm

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