Loan amount
$325,000
Loan type
Purchase {Construction}
After Repair Value
$500,000 {PP:$192,000}
ARV
65% {ARV}
Property type
Vacant Land
Borrower Details
Credit score
580
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Omega
State
Minnesota
Loan Details
Purchase price
$192,000
Down payment
$4,000
Cost of improvements
$137,000
Estimated property value after repairs
$500,000
Additional Loan Information
I want to build a house and some glamping yurts on this land. We plan to open a private yurt glamping business. We will have a couple huts to stay in as well as supplies such as solar energy, well for water, plumbing, hot tub and more. We are currently viewing a spot and are ready to start the process as soon as we can get approved with an investment loan. We speculate we will be up $300000 by at the year least year 3 of our project. We estimate at least $100k per sales increase in a year if not more.
Status
Created
April 2, 2024 - 6:46pm

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