Loan amount
$500,000
Loan type
As-Is Property Value
$1,000,000
LTV
50%
{LTV}
Property type
Single family homes (2)
Borrower Details
Credit score
665
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
Georgia
Loan Details
Additional Loan Information
My client has 2 single family homes. One of the homes is 2200 sq ft and the other is 9000 sq ft. Each property has its own deed but they are on one loan with a balance of $260K. The client purchased the properties from a bank foreclosure. The sale was for 2 properties and a 14 acre piece of land. So the total price was $300K for all of it. Will rehab the properties and hold as rentals. Total rehab budget of $390K. 8-8 month renovation timeline. Estimated ARV of $1M combined. Properties located in Ellenwood GA. Loan duration of 12-36 months. I am a broker representing my client.
Status
Closed
Created
February 11, 2020 - 8:37am
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