Loan amount
$489,000
Loan type
Purchase
{Construction}
After Repair Value
$780,000
{PP:$294,000}
ARV
63%
{ARV}
Property type
Vacant Land
Borrower Details
Credit score
665
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
West Frankfort
State
Illinois
Loan Details
Purchase price
$294,000
Down payment
$5,000
Cost of improvements
$200,000
Estimated property value after repairs
$780,000
Additional Loan Information
I found highway frontage purchased by a local municipality now in an enterprise zone and TIF district.
We want to sell residential, single family, custom modular homes at 23-25% margins. We're going to use modern technology previously only used by high end real estate firms.
Analysis of market trends show buyers purchasing homes site unseen and bidding wars on a historically low RE inventory.
We will use 'immersive experience' and virtual components (tours, virtual furniture staging, virtual walkthrough before build) to showcase customizable homes - built faster with modular construction - at lower sq ft pricing then conventional construction.
We want to sell residential, single family, custom modular homes at 23-25% margins. We're going to use modern technology previously only used by high end real estate firms.
Analysis of market trends show buyers purchasing homes site unseen and bidding wars on a historically low RE inventory.
We will use 'immersive experience' and virtual components (tours, virtual furniture staging, virtual walkthrough before build) to showcase customizable homes - built faster with modular construction - at lower sq ft pricing then conventional construction.
Status
Open
Created
June 14, 2021 - 10:17pm
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