Loan amount
$3,025,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$5,500,000 {PP:$5,499,997}
LTV
55% {LTV}
Property type
Vacant Land
Borrower Details
Credit score
700
Deal experience
3 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Miama
State
Florida
Loan Details
Purchase price
$5,499,997
Down payment
$2,475,000
Additional Loan Information
I have a client that owns a lawn company. He made about 8MM last year. He's looking to buy a recycling location in Homestead FL. It's 37.9 acres that come with environmental certification and Licenses, also a 1MM Bond.
Which also allows him to work with the city.
He has a Pre-Purchase Offer of $5,500,000 to purchase the land with all certifications and licenses associated with the land. The borrower also has a few properties that he can use for cross-collateralization as well in Miami with a value of 1.5MM to 2MM
He has plans to work with the city and I believe a contract with the city as well. The land also comes with 3 to 4 Cell Phone Tower leases as well
If there is an interest in the purchase of a non-working recycling location,(LAND)
please let me know, so I can send the file over to you.
Status
Created
January 23, 2023 - 1:14pm

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