Loan amount
$2,800,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$5,500,000 {PP:$3,500,000}
LTV
51% {LTV}
Property type
Assisted Living Facility
Borrower Details
Credit score
580
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Raliegh
State
North Carolina
Loan Details
Purchase price
$3,500,000
Down payment
$700,000
Additional Loan Information
An existing assisted living facility generates $186,000 per month I have put some money into the facility and the seller is willing to sell for 2.5 million. I have an exit strategy with the bank that currently houses the business accounts. The bank fidelity bank will take the initial loan out in a year’s time.
Status
Created
September 11, 2023 - 8:30pm

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