Loan amount
$1,750,000
Loan type
As-Is Property Value
$1,750,000
LTV
100% {LTV}
Property type
RV Park
Borrower Details
Credit score
500
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
RV Camp was completed in August of 2018, sitting at the epicenter of the major oilfield activity in the region. It’s situated between the fast-growing towns of Pecos and Monahans, allowing for excellent access to the Permian and Delaware Basins. With brand-new septic, electrical and water systems, the Camp is built for easy management. Eight 4k security cameras are included and installed along with WIFI, providing for better off-site monitoring and happier tenants. 100% occupancy was easily achieved in less than 3 months from opening, and with the oilfield boom continuing to draw workers from around the country, the Camp has enjoyed a constant stream of short and long-term tenants. Not yet in contract. Looking for 100% financing, or the seller may finance with half-down. 1-2 year loan.
PROPERTY HIGHLIGHTS
- 62 Oversized Spaces
- Current occupancy: 100%
- Current Rent: $600/mo (market $750-800/mo.)
- 50/30A Electric Units
- City Water – Best in the Region!
- Three septic systems (six 1,500-gallon tanks)
- WiFi to install
- Eight 4k security cameras
Status
Created
February 5, 2020 - 8:25am

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