Loan amount
$0
Loan type
As-Is Property Value
$350,000
LTV
0% {LTV}
Property type
Single family home
Borrower Details
Credit score
600
Deal experience
19 deals
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
31-acre parcel with improvements. As-Is value $225-250K. I need to borrow $100-150K for 12 months to (a) pay off the first mortgage of $38K, (b) Build combination of a residential/barn/shop $100K on site. The resale value is estimated at $350-375K. I purchased this investment property in 2013. It is titled under my corporation and I made all the improvements to include private driveway, spring-fed pond, 7 acres fenced pasture, underground electrical utilities, 4" x 105' well w/submersible pump, two wooden storage buildings, purchased new 2015-2016 (12' x 32' & a 12' x 20'). Property is currently rented to a man with 2 dogs & 2 horses on site for $250. Projected $400/month. Property located in Pierson, FL. Prefer 1-3 year IO. I have been involved in personal real estate for over 30 years. I do have an active Florida Real Estate Broker License & have been involved professionally for over 17 years.
Status
Created
October 12, 2020 - 9:53am

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