Loan amount
$500,000
Loan type
As-Is Property Value
$1,200,000
LTV
42%
{LTV}
Property type
Hotel
Borrower Details
Credit score
500
Deal experience
40 deals
This loan scenario was submitted by a Broker
Property Details
State
Wisconsin
Loan Details
Additional Loan Information
Investor is buying a Hotel at a sheriff's sale. High bidder at $300K. Need $200K for rehab. Was asking $900K before sale started but the investor was the only bidder and got it for $300K. 3-6 month renovation timeline. ARV $1.1-1.2M. Property located in Maryville, WI 53050. Prefer 3-5 year loan duration. I am a broker representing my client.
Status
Closed
Created
September 8, 2020 - 10:10am
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