Loan amount
$375,000
Loan type
As-Is Property Value
$1,000,000
LTV
38%
{LTV}
Property type
Apartment building
Borrower Details
Credit score
800
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
Ohio
Loan Details
Additional Loan Information
I have deal in Cleveland Ohio I’m looking at. It’s an apartment building with 47 one-bedroom units. It needs about $100K in rehab. I plan to purchase it, then fix it up, then rent the units out on a buy and hold. The building is listed at $425K. ARV 1 million. I want to offer $375K. I have $200K saved for the down payment and I have an 800 credit score. I’m an NYC Correction Officer with a great salary of $180K a year and another $35K in investment property. I have three properties that I currently own.
Status
Closed
Created
March 26, 2020 - 8:51am
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