Loan amount
$1,941,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$3,200,000 {PP:$3,141,000}
LTV
61% {LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
760
Deal experience
9 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Huntsville
State
Alabama
Loan Details
Purchase price
$3,141,000
Down payment
$1,200,000
Additional Loan Information
I have three multifamily buildings under contract consisting of two 5-unit buildings and one 28-unit building. The properties are next door to each other. Properties are currently 90% occupied and produce gross rent of $25k per month. The properties produce positive cash flow and there is significant upside to the rents. Been working on permanent financing but need to close in the next two weeks. Will continue to work on permanent finance and intend to repay this bridge loan in the next 3-6 months.
Status
Created
May 18, 2023 - 4:06pm

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