Loan amount
$0
Loan type
As-Is Property Value
$1,700,000
LTV
0%
{LTV}
Property type
Residential development
Borrower Details
Credit score
800
Deal experience
8 deals
This loan scenario was submitted by a Broker
Property Details
State
Arizona
Loan Details
Additional Loan Information
Four Townhouses in an up-and-coming neighborhood in Phoenix Arizona. Property is flat cleared land that is 1/3 of an acre. We came in with an all cash offer for the land and looking for financing to build. Purchasing land for $215K. Construction budget $1.1M. 6-7 month timeline. Post construction value $1.7M. Not yet in contract. Originally the plan was to sell but now we are thinking hold and rent them. Estimated monthly rental income $10-12K. Need bridge until refinance.
Status
Closed
Created
October 20, 2020 - 4:31pm
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