Loan amount
$343,000
Loan type
Purchase {Construction}
After Repair Value
$1,170,000 {PP:$317,900}
ARV
29% {ARV}
Property type
Single Family
Borrower Details
Credit score
740
Deal experience
200 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Summerfield
State
Florida
Loan Details
Purchase price
$317,900
Down payment
$74,999
Cost of improvements
$100,000
Estimated property value after repairs
$1,170,000
Additional Loan Information
The land is located in the middle of a very popular subdivision with lots selling for $45k+. As it sits the land needs to be subdivided into quarter acre lots. Subdividing would require the addition of a road. We have been in the construction industry for the last 8 years and are currently building over 100 houses. We have more than enough experience to add the road and sell some of the lots for maximum price. We also plan to keep some to build and then sell. The current survey shows 26 buildable lots, but I believe I could have the property resurveyed and add two more lots.
Status
Created
April 28, 2022 - 4:29pm

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