Loan amount
$1,300,000
Loan type
As-Is Property Value
$1,900,000
LTV
69%
{LTV}
Property type
Commercial
Borrower Details
Credit score
670
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
Georgia
Loan Details
Additional Loan Information
Vacation Entertainment Complex. 8 acres, including 400 feet of river frontage, with 122,000 square foot entertainment complex in growing tourist town of Helen, Georgia. Indoor go karts, skating rink, laser tag, haunted house, arcade, live performance theater, etc. Profitable from day 1. Established business and location since year 2000. Multiple opportunities for undeveloped portions of the land and building. Asking price $1.9M. Putting down $200K. Not yet in contract. We are currently in a handshake agreement, I can get a contract if necessary. Average business income $35K/month. Prefer long-term loan. Currently, less than half of the building and property are being utilized to their fullest potential and there has been little advertising done over the last 5-6 years. Could easily grow that to $500k in the first year.
Status
Closed
Created
September 15, 2020 - 8:43am
Hard Money Lenders Now Offering Real Estate Investor Loans in Georgia Atlanta | Augusta | Columbus | Macon | Savannah | Athens Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans