Loan amount
$705,000
Loan type
Purchase {Fix&Flip}
After Repair Value
$1,000,000 {PP:$255,000}
ARV
71% {ARV}
Property type
Single Family
Borrower Details
Credit score
600
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Charlotte
State
North Carolina
Loan Details
Purchase price
$255,000
Down payment
$50,000
Cost of improvements
$500,000
Estimated property value after repairs
$1,000,000
Additional Loan Information
I have a neighbor that is looking to sell home; his mother died and he no longer wants to live there. It’s is a tear down. There are a few houses that have been bought, tore down, and built back that have sold for about $1,000,000 average. The neighborhood and surrounding area is growing rapidly.
Status
Created
February 10, 2023 - 3:35pm

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