Loan amount
$200,000
Loan type
Purchase {Fix&Rent}
After Repair Value
$320,000 {PP:$200,000}
ARV
63% {ARV}
Property type
Single Family
Borrower Details
Credit score
594
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
To Be Determined
State
Ohio
Loan Details
Purchase price
$200,000
Down payment
$1
Estimated property value after repairs
$320,000
Additional Loan Information
I am looking at three properties in Ohio .Two of them is Single family homes in a commercial zone .First floor can be rent for Restaurant or any kind of shop. Second floor can be any office for Doctor , Chiropractor or can be residential as per requirement. .There is an offer from a baker for ground floor for 1000 Dollars because it has fully function commercial kitchen as it was rented to bakery before .Third property is a building of four apartments.
Right now rent is 350 per apartment but with little bit of fixing. I am sure we can get 450 per Apartment .Altogether we can get 3800 rent per month easily . from all three properties.
Status
Created
January 5, 2021 - 1:25pm

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