Loan amount
$600,000
Loan type
As-Is Property Value
$830,000
LTV
73%
{LTV}
Property type
1 multi-family, 2 single-family
Borrower Details
Credit score
700
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
Pennsylvania
Loan Details
Additional Loan Information
We are 2 partners who currently own 3 adjacent properties (one 5 unit building and two single-family homes). Both partners have established investment experience. Looking to refi and finish construction on one single family home and one unit of the multi-family building, as well as lite exterior work.
Values: Property #1 (single family) $140K, Property #2 (single family) $150K, Property #3 (5 unit mixed use 4 residential units and 1 residential with commercial office space in front) $375K+.
We purchased the properties as one purchase with 2 loans from private lenders. We owe $525K currently.
The remaining renovations will cost $50-100K. Completed by March.
ARV: Property #1- $170K, Property #2- $180K, Property #3- $480K.
Property located in Lancaster, PA
All units rented for a total of $7K/month.
12+ month loan duration.
Values: Property #1 (single family) $140K, Property #2 (single family) $150K, Property #3 (5 unit mixed use 4 residential units and 1 residential with commercial office space in front) $375K+.
We purchased the properties as one purchase with 2 loans from private lenders. We owe $525K currently.
The remaining renovations will cost $50-100K. Completed by March.
ARV: Property #1- $170K, Property #2- $180K, Property #3- $480K.
Property located in Lancaster, PA
All units rented for a total of $7K/month.
12+ month loan duration.
Status
Closed
Created
October 2, 2020 - 4:11pm
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