Loan amount
$400,000
Loan type
As-Is Property Value
$620,000
LTV
65%
{LTV}
Property type
Single family home
Borrower Details
Credit score
800
Deal experience
10 deals
This loan scenario was submitted by a Broker
Property Details
State
Rhode Island
Loan Details
Additional Loan Information
In contract to purchase. Flip within 180 days. Presently living in the home. Purchase price $440K. Renovation budget $50K. Will take 90 days to complete. Have $200K cash for rehab and reserve. ARV $599-620K. Property is located in Warwick, RI 02889. In 2017, I flipped a property of similar value for $200K+ profit. Real Estate Broker since 1990. Owned and operated a design build company from 1976 to 1996. Sold to a listed company. No bankruptcy or loan issues. Need to close loan before August 30.
Status
Closed
Created
July 22, 2020 - 2:07pm
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