Loan amount
$50,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$75,000
{PP:$55,000}
LTV
67%
{LTV}
Property type
Single Family
Borrower Details
Credit score
740
Deal experience
3 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Rome
State
Georgia
Loan Details
Purchase price
$55,000
Down payment
$5,000
Additional Loan Information
This is an older house that I would like to purchase and hold for long-term rental income. I have owned rental property and managed my own rental property for 14 years. The most houses I've managed at one time is 15 and currently manage 6. I have a long track record of buying fixing and holding properties as extensive as major foundation issues to the fluff of paint and carpet. I have learned over the years the importance of certain higher-cost capital improvements into a rental property in order to maximize long-term ROI vs. short-term cash conservation. I also have a deep understanding of the cost of rental property and the requirement of cash reserves and access to capital. My goal is to slowly and strategically grow my portfolio of rental property to 50 homes.
Status
Open
Created
August 3, 2021 - 1:52pm
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