Loan amount
$390,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$550,000
{PP:$400,000}
LTV
71%
{LTV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
750
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Pensacola
State
Florida
Loan Details
Purchase price
$400,000
Down payment
$10,000
Additional Loan Information
This investment property has 4 units that are all 2 bedroom/1 bath. The property needs minor repairs and updating to be able to get the full potential of rental income, at a cost of around 5K and will be completed in 2 weeks. The 2 apartments on the 2nd floor will be long term rentals, and the 2 apartments on the 1st floor will be short term rentals. While I haven't bought investment property in the last 36 months, I do currently own rental property and have owned rental property for the past 6 years to include 1 flip and 1 flip and hold.
Status
Open
Created
July 21, 2022 - 4:04pm
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