Loan amount
$167,500
Loan type
Purchase
{Construction}
After Repair Value
$2,300,000
{PP:$10,000}
ARV
7%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
620
Deal experience
5 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Chiloquin
State
Oregon
Loan Details
Purchase price
$10,000
Down payment
$2,500
Cost of improvements
$160,000
Estimated property value after repairs
$2,300,000
Additional Loan Information
The property is already owned by my partners father and I have signed purchase agreement for 10,000$. Two parcels for a total of 5 acres. I want to build a total of 25 condos on the property averaging around 465-625 sq ft made using eco-friendly and recycled materials as well as renewable sources of energy and utilities. Similar to the concept of an eco-village. Each unit on average would be worth 65,000-210,000 without inclusion of the land. Land value estimate after construction is 2.3 million dollars (additionally projected to generate 1.98 million dollars from unit sales). Permits and county approval would be easily obtained as the project has already been negotiated with the local governments.
Status
Open
Created
April 7, 2024 - 11:38pm
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