Loan amount
$500,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$1,200,000
{PP:$600,000}
ARV
42%
{ARV}
Property type
Other Commercial
Borrower Details
Credit score
790
Deal experience
5 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Houston
State
Texas
Loan Details
Purchase price
$600,000
Down payment
$250,000
Cost of improvements
$150,000
Estimated property value after repairs
$1,200,000
Additional Loan Information
Under contract. 60ft tunnel carwash with 8-Bay self-serve coin operated. Doing $12k monthly net. On a main throughway with >45k daily traffic count. Tunnel needs upgrade, assuming $10k revenue uplift from introducing new tunnel and membership program; @20% cap rate will add another $600k of value. Owner currently operates 1 other tunnel carwash in Houston.
Status
Open
Created
October 26, 2023 - 4:36pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Texas Houston | San Antonio | Dallas | Austin | Fort Worth | El Paso Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans