Loan amount
$10,800,000
Loan type
Purchase
{Construction}
Property value
$20,000,000
{PP:$800,000}
ARV
54%
{ARV}
Property type
Single Family
Credit score
700
Deal experience
8 deals
This loan scenario was submitted by a Broker
No
City
Covington
State
Kentucky
Purchase price
$800,000
Down payment
$0
Cost of improvements
$10,000,000
Estimated property value after repairs
$20,000,000
Additional Loan Information
Under contract to purchase one SFR plus fifteen vacant lots with dramatic views of the Ohio River and Cincinnati, Ohio skyline. This is a multi-year development project to build high-end view homes that will be sold pre-construction at approximately $1,000,000 each. After initial purchase and the construction of one spec home, the project is intended to be self-funding through pre-construction sales.
Status
Pending review: Please check your email. We will be sending you follow-up questions, if needed. Be sure to check your spam folder.
Created
September 9, 2021 - 12:12am
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