Loan amount
$229,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$269,000 {PP:$269,000}
LTV
85% {LTV}
Property type
Other Commercial
Borrower Details
Credit score
645
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Woodstock
State
New York
Loan Details
Purchase price
$269,000
Down payment
$40,000
Additional Loan Information
The property is in a tourist area of Woodstock, NY. The property has 2 off grid tiny houses, very well built, on a foundation, insulated, with propane heat. I am planning to airbnb out these 2 tiny houses, and create 4 additional campsites on the land to rent. I also want to put 1 yurt for rent. The income will all come from Airbnb, Hipcamp and Glamping sites. I am also planning to start a greenhouse /; plant nursery business on the property for additional income. I am planning to bring in modular solar generators with solar panels to have electricity. Drinking water will be delivered in tanks. In a couple years I would possibly build a house on the land, with septic, well, and electricity. the property is in a very desired area with lots of tourists, hiking places. Close to NYC, only 2 hours away. I am looking for a lender who can think outside of the box, and see the value of this unique place to be invested in.
Status
Created
July 19, 2023 - 8:13pm

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