Loan amount
$12,900,000
Loan type
As-Is Property Value
$30,000,000
LTV
43%
{LTV}
Property type
Residential portfolio
Borrower Details
Credit score
300
Deal experience
8 deals
This loan scenario was submitted by a Broker
Property Details
State
Maryland
Loan Details
Additional Loan Information
I have formally offered the City of Baltimore $16,680 to purchase eighty-six residential buildings. I am in communication with the Director of Neighborhood Development and Outreach, Baltimore City Department of Housing and Community Development. In total, $12.9M will be needed to purchase and renovate the properties. 2 year timeline. ARV $30.7M. The properties will be rented and/or sold. I am putting $30K towards the project myself, along with $177K from pledges who may be added as members to the corporation.
Status
Closed
Created
August 24, 2020 - 8:50am
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