Loan amount
$0
Loan type
As-Is Property Value
$2,200,000
LTV
0%
{LTV}
Property type
19 Unit Apartment Building
Borrower Details
Credit score
810
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Illinois
Loan Details
Additional Loan Information
I'm looking to purchase and improve a 19 unit apartment building in Chicago, Illinois. I have experience with renovations and already have contractors for several types of projects that I can contact in the area should I find the money for this purchase. I have experience with Real estate though I currently don't own any properties as I have had trouble finding the money for various projects.
This property was recently renovated in 2012, but It shouldn't be too tough to bring it further into the future with upgrades to appliances, fixtures, flooring, and much more. And fortunately, before I got into real estate, I worked in liquidation, so I know how to easily acquire appliances and various other things for renovation projects like this at great discounts.
I am seeking a loan to cover the entire project. The sum I am asking is $1,050,000 which is enough to purchase and renovate what needs to get done. currently, the property is worth close to $1,600,000 and has an ARV of roughly 2,200,000. I may not currently own any properties but I do have a couple of years of experience working in real estate.
This property was recently renovated in 2012, but It shouldn't be too tough to bring it further into the future with upgrades to appliances, fixtures, flooring, and much more. And fortunately, before I got into real estate, I worked in liquidation, so I know how to easily acquire appliances and various other things for renovation projects like this at great discounts.
I am seeking a loan to cover the entire project. The sum I am asking is $1,050,000 which is enough to purchase and renovate what needs to get done. currently, the property is worth close to $1,600,000 and has an ARV of roughly 2,200,000. I may not currently own any properties but I do have a couple of years of experience working in real estate.
Status
Closed
Created
November 16, 2020 - 9:14am
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