Loan amount
$60,000
Loan type
Refinance {Fix&Rent}
After Repair Value
$150,000
ARV
40% {ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
664
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Toledo
State
Ohio
Loan Details
Current mortgage balance
$0
Cost of improvements
$60,000
Estimated property value after repairs
$150,000
Additional Loan Information
The home was an auction from the local housing authority to buy properties to help restore neighborhoods. I am investing in a 2 family home to allow someone a second chance at life where they can change he atmosphere and thrive from there. I am also allowing the community to thrive by fixing up homes to rent out so that the economic value can increase not only in numbers but in mental prosperity. I look forward to buying more properties to coinside with our soon to open counseling facility to help these families with the assistance and services they need.
Status
Created
March 19, 2021 - 12:45pm

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