Loan amount
$48,500
Loan type
Purchase {Fix&Flip}
After Repair Value
$120,000 {PP:$35,000}
ARV
40% {ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
650
Deal experience
20 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Newburgh Heights
State
Ohio
Loan Details
Purchase price
$35,000
Down payment
$0
Cost of improvements
$13,500
Estimated property value after repairs
$120,000
Additional Loan Information
Thi is a wholesale deal/ransactional deal. This deal will be bought and sold simultaneously on the same day. The end-buyer is already in place with their funding available and I will have the contract for the end-buyer on the evening of the 11/22/21. Newburgh Heights that continue to use the POS format. the property has already been inspected and the city has already agreed to the amount of the repairs being at $13,500. this amount has to be put into Escrow with the title company which is the Harvard Title Company. For this reason, we have a loan amount of $48,500. The property is being purchased at $35,000, the repairs are at $13,500 that the end-buyer is assuming and being responsible for.
Status
Created
November 21, 2021 - 7:21pm

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