Loan amount
$230,000
Loan type
Purchase
{Construction}
After Repair Value
$567,000
{PP:$90,000}
ARV
41%
{ARV}
Property type
Single Family
Borrower Details
Credit score
650
Deal experience
3 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Akron
State
Ohio
Loan Details
Purchase price
$90,000
Down payment
$20,000
Cost of improvements
$160,000
Estimated property value after repairs
$567,000
Additional Loan Information
Purchase 13 additional lots for construction of 20 sfh valued at 225,000$ each. New acquisitions under contract and 7 existing mortgage free will total 20 developed building ready lots for construction of these homes. We seek Acquisition financing , development and construction . Our exit will be 50% sales and 50% rental units. The present value of 7 lots owned mortgage free is approximately 120000$. We will pledge needed collateral
Status
Open
Created
September 17, 2023 - 1:16pm
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