Loan amount
$400,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$450,000
{PP:$450,000}
LTV
89%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
765
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Rockport
State
Texas
Loan Details
Purchase price
$450,000
Down payment
$50,000
Additional Loan Information
I would like to purchase a boat barn complex with 18 units that is currently generating $1800 per month. However some of the tenants are friends of the owner and set in at a lower rate. I would update prices bringing the monthly revenue to 2,500. I also plan on building a 2 bedroom 800sf home on the property that will be my primary residence.
Status
Open
Created
November 2, 2021 - 7:42pm
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