Loan amount
$610,000
Loan type
As-Is Property Value
$610,000
LTV
100%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
590
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
Looking to purchase a laundromat, already built and established. Property located in Brooklyn, NY. Purchase price $590K. Putting $5K down and my rental property as collateral which is located in Virginia. The rental is worth $241K, has $225K owed, and is rented for $2,000/month. Additional funds are for moving vending equipment from Virginia to the laundromat. Laundromat monthly revenue $14.5K. Prefer 10+ year duration.
Status
Closed
Created
June 30, 2020 - 11:35am
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