Loan amount
Loan type
Purchase {Fix&Rent}
Property value
$950,000 {PP:$600,000}
64% {ARV}
Property type
Multi-Family 5+ Units
Credit score
Deal experience
1 deal
This loan scenario was submitted by a Broker
Purchase price
Down payment
Cost of improvements
Estimated property value after repairs
Additional Loan Information
29 unit apartment, Mom and Pop property with no management company. PP $600,000 @12% cap with 18 units rented at $550. (Owners just raised rents to $550 which is the lower end of the market rent). While under contract, owner’s daughter have continued to rent out the vacancies. Out of all the vacancies, only 4 is not livable. ARV is around $950k. PP is less than 70% LTV. Looking for a lender that will use the LTV % to reduce down payment and/or allow me to use gap payment for the DP. Term 18 - 36 months. Refinance into a conventional loan after using the CF to rehab the 4 units.
July 30, 2021 - 9:06pm

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