Loan amount
$245,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$347,000
{PP:$205,000}
ARV
71%
{ARV}
Property type
Single Family
Borrower Details
Credit score
660
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Johns Island
State
South Carolina
Loan Details
Purchase price
$205,000
Down payment
$20,000
Cost of improvements
$60,000
Estimated property value after repairs
$347,000
Additional Loan Information
I placed an offer. This house just came on the market. It's almost identical to a house two doors up that just sold for $344.000. Other comps include a house that sold for $349,900. This all withing the past two months. This house needs a definite rehab, but it's perfect for one. It is one a cement slab, 3bd/1ba 960 SF. This area, Charleston, SC houses are snatched up within hours or days of hitting the market. I'm hoping to hear back if my offer is accepted. In the meantime, I am looking for funding based on the ARV. I am a new investor eager to start this new life adventure and business. I do have an LLC, as well as a 25 plus year personal RE Investing trainer, and a wonderful mentor whom does this also for a living. I have a great support moving forward.
Status
Open
Created
April 5, 2022 - 5:36pm
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