Loan amount
$1,650,000
Loan type
Refinance
{Cash-Out}
Property value
$3,000,000
LTV
55%
{LTV}
Property type
Motel
Credit score
500
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
City
Treasure Island
State
Florida
Current mortgage balance
$1,400,000
How much cash-out are you looking for?
$250,000
Additional Loan Information
I have a 13 unit motel, added a Takeout cafe will be open in 30 days or so. If I get the 1.8 I will add a bar. That would add a tremendous amount of revenue . Currently the income is down but rebounding . It would take precovid sales 400k to 600-700k with cafe but a bar would add approximately a million plus. Need fast funded . This location is a goldmine . Period . I have the experience. COVID so far created a 5-600k loss lso understand that.
This would wipe my debts and pay for liquor license.
.
This would wipe my debts and pay for liquor license.
.
Status
Pending review: Please check your email. We will be sending you follow-up questions, if needed. Be sure to check your spam folder.
Created
May 18, 2021 - 3:26pm
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