Loan amount
$45,000
Loan type
As-Is Property Value
$120,000
LTV
38%
{LTV}
Property type
Single family home
Borrower Details
Credit score
770
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
We are looking at purchasing property at 216 West Orchid Ave Foley, Alabama 36535 which is a 2br 1 bath house that requires repairs. We intend to complete the repairs and rent the property via long term or Air BNB. There is a repaired home at 218 West Orchid Ave which is currently on sale for 139,000.00. The purchase price is 45,000 cash plus seller pays half of closing costs. The renovation budget is 25,000. The renovation time is 6 months. We are not currently under contract but we are bidding. The estimated income for this property is 13,200 a year minimum. The loan we are looking for is 6 months to a year.
Status
Closed
Created
October 5, 2019 - 5:13pm
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