Loan amount
$50,000
Loan type
As-Is Property Value
$104,000
LTV
49%
{LTV}
Property type
Condo
Borrower Details
Credit score
650
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Delaware
Loan Details
Additional Loan Information
This is a buy-back of one of my properties that went to Sheriff's Sale in April of last year. It is a two-story, two bedroom, one bath with a powder room, 1100 square feet, carpet thru-out and a underground parking space located on the Brandywine River in the downtown area of the city of Wilmington and the state of Delaware. I would like to replace the carpet with hardwood, re-paint the unit and buy all new appliances before arranging for a renter. Purchase price $28K. City taxes of $16K owed. Current value $94K. Renovation budget $6K. ARV $104K+. Timeline of 40 days. Unit rents of $1,200/month. Loan duration 18-24 months.
Status
Closed
Created
May 22, 2020 - 11:01am
Hard Money Lenders Now Offering Real Estate Investor Loans in Delaware Wilmington | Dover | Newark | Middletown | Smyrna | Milford Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans