Loan amount
$500,000
Loan type
As-Is Property Value
$800,000
LTV
63%
{LTV}
Property type
Apartment building
Borrower Details
Credit score
740
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Missouri
Loan Details
Additional Loan Information
16 unit apartment building. Property is under-rented and not well maintained due to a poor property manager. Property needs minimal foundational work. I own a construction company and can fulfill the renovations myself. Very good opportunity in a very good location. Purchase price $600-650K. 15% down which will be carried by the seller. Not yet in contract while I figure out financing. Property located in Columbia, Missouri. Monthly rental income $7,000-8,000. Plan to refinance once the renovations are done and rents are brought up.
Status
Closed
Created
April 21, 2020 - 12:32pm
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