Loan amount
$94,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$130,000
{PP:$80,000}
ARV
72%
{ARV}
Property type
Single Family
Borrower Details
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Jamestown
State
Tennessee
Loan Details
Purchase price
$80,000
Down payment
$6,000
Cost of improvements
$20,000
Estimated property value after repairs
$130,000
Additional Loan Information
Property under contract at 79500. 25 acre with 1 bedroom home. Spring fed well. Property has been perk tested but sewer not put in. Perfect roof line to add a 2nd bedroom. Needs sewer put in and a 10x12 bedroom added and interior painting. Husband was a superintendent over 5 construction crews in FL. We have had a contractor come and give estimate. 1 is 20000 and 1 is 25000 to do those repairs. Its listed by seller as lot land. Realtor said she could change the contract to include the home if need be. Thanks for the consideration.
At the point of sale would like to divide a 5 acre lot out to be sold with the home. Keep 20 acre to possibly put HUD approved duplexes on for single mothers with small children.
At the point of sale would like to divide a 5 acre lot out to be sold with the home. Keep 20 acre to possibly put HUD approved duplexes on for single mothers with small children.
Status
Open
Created
August 4, 2021 - 3:12pm
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