Loan amount
$130,000
Loan type
As-Is Property Value
$180,000
LTV
73%
{LTV}
Property type
Single family home
Borrower Details
Credit score
780
Deal experience
30 deals
This loan scenario was submitted by a Broker
Property Details
State
Oklahoma
Loan Details
Additional Loan Information
3 bed, 2 bath, 2 car garage, built 1985 brick house in Edmond, an affluent suburb of Oklahoma City in a good school district. I will manage the rehab and will also place the tenants. The project will need $15k to rehab and the ARV will be ~$180k. I have lenders lined up to transfer the property to long-term debt after the property is stabilized. I estimate $1,500 as the rent because I have 2 other similar houses in the same area that are both rented for over $1,500/month. $131k purchase price. 1 month renovation timeline. I am under contract.
Status
Closed
Created
December 29, 2019 - 8:48am
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