Loan amount
$65,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$100,000 {PP:$90,000}
LTV
65% {LTV}
Property type
Medical Office
Borrower Details
Credit score
610
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Pickrell
State
Nebraska
Loan Details
Purchase price
$90,000
Down payment
$25,000
Additional Loan Information
The property is a veterinary clinic; the seller is looking to sell quickly. The veterinary clinic real estate property has a veterinary practice as a tenant and receives around $1100/mo in rent income from the veterinary practice. This would be a non-owner single tenant commercial property situation with an "other commercial" type property. The seller has a completed broker opinion of value valuation in hand and a real estate friend of mine in the area confirmed that is in line for the market in the area. (List price would likely be $110-$120k.) We can be under contract as soon as I can get an approval/potential closing date. My daughter is a veterinarian and is familiar with vet clinic property management and vet clinic operational management and can help me navigate the peculiarities of this kind of special use commercial property.
Status
Created
March 4, 2024 - 2:58pm

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