Loan amount
$65,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$95,000
{PP:$55,000}
ARV
68%
{ARV}
Property type
Single Family
Borrower Details
Credit score
750
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Indianapolis
State
California
Loan Details
Purchase price
$55,000
Down payment
$5,000
Cost of improvements
$15,000
Estimated property value after repairs
$95,000
Additional Loan Information
We are buying this property for $55,000, renovating it (mostly cosmetic), then will place a tenant using our property management company, and finally we will refinance the property with our traditional lender and pay off the hard money loan. This is the strategy we've used twice before.
Status
Open
Created
June 2, 2021 - 2:44pm
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