Loan amount
$300,000
Loan type
As-Is Property Value
$400,000
LTV
75%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
810
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
West Virginia
Loan Details
Additional Loan Information
12 unit apartment and a tri-plex also included. All are 2 bedroom 1 bath. New wiring, plumbing, roof, and laminate. Currently owned by a co-worker that is retiring. List price $350K but trying to get down to $300-325K. Expect appraisal to come in at $400K. $60K down. Not yet in contract. Plan to rent all units. Monthly rental income $5,416 which can be raised. Property located in Bluefield, WV. Prefer long-term loan, but plan to pay off early.
Status
Closed
Created
August 8, 2020 - 8:59am
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