Loan amount
$123,000
Loan type
Purchase {Construction}
After Repair Value
$175,000 {PP:$98,000}
ARV
70% {ARV}
Property type
Vacant Land
Borrower Details
Credit score
610
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Mineral Wells
State
Texas
Loan Details
Purchase price
$98,000
Down payment
$0
Cost of improvements
$25,000
Estimated property value after repairs
$175,000
Additional Loan Information
2 acres of vacant land in a commercial district already fenced. I would like to add stone and security cameras. Then turn the property into an outside storage facility. Eventually add a building of inside storage units, which in turn will make property value increase even more. Currently I am paying over 1k per month for outside storage for my own things, at three different storage facilities. At this facility I estimate the monthly revenue at 4k per month on average, maybe more. I see storage places everywhere and they are full or almost full. This would be in my opinion a great first time investment.
Status
Created
April 21, 2023 - 9:25am

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