Loan amount
$50,000
Loan type
Refinance
{Construction}
After Repair Value
$360,000
ARV
14%
{ARV}
Property type
Vacant Land
Borrower Details
Credit score
675
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Walker
State
Louisiana
Loan Details
Current mortgage balance
$0
Cost of improvements
$50,000
Estimated property value after repairs
$360,000
Additional Loan Information
I bought a 10 acre tract of land, fully wooded. Planned to build a single family home. Have changed plans since then. I’m wanting to clear, prepare, put in a driveway/road to access the whole property and then sell the property. Goal is to sell six-eight 1-1.5 acres lots ready to be built on. Average price per acre in the area is $45,000. I need the capital to complete everything above in order to sell the lots.
Status
Open
Created
March 25, 2024 - 8:55am
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