Loan amount
$350,000
Loan type
As-Is Property Value
$500,000
LTV
70%
{LTV}
Property type
Commercial / Contractor Storage
Borrower Details
Credit score
678
Deal experience
24 deals
This loan scenario was submitted by a Broker
Property Details
State
Wisconsin
Loan Details
Additional Loan Information
Transitioning an existing office building into a contractor storage facility. Need $150K for real estate purchase and $200K to add the 10 units that will each be rented for $650 per month. I just did a similar project in this area and there is a huge demand. ARV $500,000. Work should take 4 months. Already in contract to purchase and set to close at the end of the month. Property located in Janesville, WI. Regarding loan term, I'm open to ideas; ideally amort over 20 years.
Status
Closed
Created
January 1, 2020 - 10:40am
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