Loan amount
$81,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$118,000
{PP:$62,000}
ARV
69%
{ARV}
Property type
Single Family
Borrower Details
Credit score
700
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Detroit
State
Michigan
Loan Details
Purchase price
$62,000
Down payment
$11,000
Cost of improvements
$30,000
Estimated property value after repairs
$118,000
Additional Loan Information
The current property is a 903 sqft one story single family home with 3 bedrooms and 1 bathroom. We are planning to keep the current floor plan for the existing structure. We will remove the old asphalt shingle roofing and install new asphalt shingle roofing. The property will have normal cosmetic rehab such as new flooring, fresh paint in all areas in the property, new water heater, new furnace, updating electrical wiring, updating kitchen and updating bathroom. The overall quality we are looking for is mid-range to match the neighborhood.
Status
Open
Created
November 3, 2021 - 6:38pm
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