Loan amount
$400,000
Loan type
As-Is Property Value
$600,000
LTV
67%
{LTV}
Property type
single, retail and multi-family
Borrower Details
Credit score
720
Deal experience
7 deals
This loan scenario was submitted by a Broker
Property Details
State
Mississippi
Loan Details
Additional Loan Information
We are in an area that is short on rental property options. We are looking to do 3 small apartment buildings. 2 will be 6 unit and 1 will be an 8 unit with 1/2 of those with ADA layout. Rental will $1500/month for the 2 6-unit locations and $1000/month for the 8 unit location for a total rental income monthly of $26,000. We are asking for $400K to fund the 1st one with as small of a down-payment as possible. $400K includes land and construction. ARV $600K. Located in Vicksburg.
Status
Closed
Created
September 18, 2019 - 8:34pm
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