Loan amount
$590,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$950,000
{PP:$500,000}
ARV
62%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
640
Deal experience
3 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Chicago
State
Illinois
Loan Details
Purchase price
$500,000
Down payment
$150,000
Cost of improvements
$240,000
Estimated property value after repairs
$950,000
Additional Loan Information
I'm under a contract to purchase a 12 unit apartment building that consists of 6 units 1bed/1bath and 6 studio units. I will rehab it and convert it into a 12 unit 1bed/1bath apartment building. Then I will rent it our and refinance into a long term loan.
Status
Open
Created
June 22, 2023 - 2:37am
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