Loan amount
$1,280,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$1,500,000 {PP:$1,300,000}
LTV
85% {LTV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
580
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Waco
State
Texas
Loan Details
Purchase price
$1,300,000
Down payment
$20,000
Additional Loan Information
We have 4/4 plexes under contract in Waco, Texas. There's a total of 16 bedrooms and 20 bathrooms. Each bedroom has it's own walk-in closet, bathroom, and enclosed parking garage. These 4 plexes will be rented to college students wanting to live off-campus and attending Baylor University. All buildings cash flow at $200 per door after expenses. We have been in the collegiate market since 2007 providing summer and study abroad storage and shipping at colleges and universities throughout Southern California. Our extensive experience includes working with Housing Offices at campuses and moving students into off-campus housing. Storage and shipping will be incorporated at the 4 plexes and will prove to be an excellent forced appreciation to drive up revenue.
Status
Created
April 15, 2022 - 3:16pm

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