Loan amount
$370,000
Loan type
As-Is Property Value
$504,000
LTV
74%
{LTV}
Property type
Apartment building
Borrower Details
Credit score
605
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Tennessee
Loan Details
Additional Loan Information
Offer pending for an off-market 16-unit apartment in Memphis TN until I can provide proof of funds. Offer is $275K. Looking for $275K plus $95K for rehab. ARV $504K. Estimated current monthly rental is $2,215. Gross Schedule monthly Rental Income is $8,175. 6-12 month loan term. Exit strategy is to refinance in to a traditional loan.
Status
Closed
Created
May 13, 2020 - 9:11am
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