Loan amount
$505,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$525,000 {PP:$525,000}
LTV
96% {LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
703
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Sioux City
State
Iowa
Loan Details
Purchase price
$525,000
Down payment
$20,000
Additional Loan Information
I’m looking for a loan to purchase a property that includes 6 rental houses, 1 duplex, and 3 garages. These properties divided include a total of 14 bed’s and 8 baths. Each property is different, the minimum rent for each individual property is 800 a month. I estimate the property to bring in income of around 6000+ a month, it would ultimately pay for itself. I have 20,000 thousand in mutual funds that I plan to use as an emergency fund for home repairs if needed or extra cash if a tenant were to miss a payment. I am scheduled to view the property in the next 2 days, the asking price is 525000 but I will negotiate. This is an incredible investment opportunity and I am looking to see if I can make it work.
Status
Created
December 2, 2023 - 5:29pm

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