Loan amount
$40,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$100,000
{PP:$30,000}
ARV
40%
{ARV}
Property type
Single Family
Borrower Details
Credit score
730
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Rushville
State
Indiana
Loan Details
Purchase price
$30,000
Down payment
$5,000
Cost of improvements
$14,997
Estimated property value after repairs
$100,000
Additional Loan Information
Fix up and rent out. House is solid with good foundation and frame and exterior. Mainly only the inside needs insulation, drywall, paint, new cabinets, updated plumbing, and new sinks/bathtub/toilet/ kitchen sink. New subfloor and flooring. Needs gutters. The seller is just basically asking what the land value and structure is valued according to previous tax records. I believe once I fix it up, home could re-appraise for 100k, and I plan to rent it out for 500 a month. It will be 3 bedroom, 1 bath home with 1/4 acre approximately.
Status
Open
Created
April 30, 2022 - 6:52pm
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