Loan amount
$49,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$75,000
{PP:$10,000}
ARV
65%
{ARV}
Property type
Vacant Land
Borrower Details
Credit score
720
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Okanogan
State
Washington
Loan Details
Purchase price
$10,000
Down payment
$1,000
Cost of improvements
$40,000
Estimated property value after repairs
$75,000
Additional Loan Information
I have a rental mobile home that I am currently paying lot rent for. I have found bare land with no improvements that is $10000. My plan is to buy the land build a pad for the mobile home ad power and bring in city water and sewerage, move the mobile home in and re rent the home I am currently bringing in $850 in rent every month.
Status
Open
Created
March 3, 2021 - 12:31pm
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