Loan amount
$5,400,000
Loan type
Refinance
{Construction}
After Repair Value
$12,000,000
ARV
45%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
732
Deal experience
11 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Marrero
State
Louisiana
Loan Details
Current mortgage balance
$900,000
Cost of improvements
$4,500,000
Estimated property value after repairs
$12,000,000
Additional Loan Information
78 Units are 100% leased with waiting list. HUD subsidized (pays $1mm per year rents) and has mandated adding units to 114. Renovations needed on some of the 78 units.
Status
Open
Created
January 17, 2023 - 7:48pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Louisiana New Orleans | Baton Rouge | Shreveport | Lafayette | Lake Charles | Bossier City Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans