Loan amount
$0
Loan type
As-Is Property Value
$650,000
LTV
0%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
755
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
West Virginia
Loan Details
Additional Loan Information
24 unit mobile home park at 100% full capacity and a gross monthly income of $14,646. There is a 1200 sq feet brick building on the property that is currently being used for storage, but can be used as rental income as well. Also, three available spaces to add mobile homes to increase monthly income. I have worked this property for 3 years and have negotiated the asking price down from $700,000 to $600,000. I am currently working with a local bank in Charleston WV who will go 85% LTV on the property. The problem I am having is the downpayment of 15%.
Status
Closed
Created
October 26, 2020 - 4:30pm
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