Loan amount
$1,400,000
Loan type
Refinance
{Construction}
After Repair Value
$2,700,000
ARV
52%
{ARV}
Property type
Restaurant/Entertainment
Borrower Details
Credit score
660
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Waite Park
State
Minnesota
Loan Details
Current mortgage balance
$0
Cost of improvements
$1,400,000
Estimated property value after repairs
$2,700,000
Additional Loan Information
I am in the process of rebuilding my sports bar that burned down last April. My rebuild project has been appraised at 2,700,000. I own the real estate that I am building on, and my real estate is debt free. The rebuild started a couple months back, and I am using my money on the start of the rebuild. I am looking to borrow roughly 1,400,000 to complete the rebuild.
Status
Open
Created
February 13, 2021 - 2:46pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Minnesota Minneapolis | St Paul | Rochester | Duluth | Bloomington | Brooklyn Park Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans