Loan amount
$50,000
Loan type
As-Is Property Value
$160,000
LTV
32%
{LTV}
Property type
Single family home
Borrower Details
Credit score
800
Deal experience
8 deals
This loan scenario was submitted by a Broker
Property Details
State
Oregon
Loan Details
Additional Loan Information
Purchase directly from owner for 1/3 current value, finish started project. Seller is a co-worker of my Son, Started but has other projects and knows my son has the skills to finish the project and would like to purchase a home. Currently in contract.
Current status: Foundation, electrical, plumbing, exterior roof and structural complete, most drywall complete. Window replacement, top out fixtures, bath, kitchen, paint, flooring, lighting, exterior paint, replace gutters.
Purchase price $70k. Renovation budget $15k. 6 months to finish renovation. ARV $160k. Located in Coos Bay.
My son is planning on living in the home. My son and his wife have some credit but not enough to qualify for this unfinished project on their own. I do and also have the experience to manage and perform all trade work and finish the project. I am prepared to provide $15000 down and provide the $15000 cash necessary for the renovation.
Current status: Foundation, electrical, plumbing, exterior roof and structural complete, most drywall complete. Window replacement, top out fixtures, bath, kitchen, paint, flooring, lighting, exterior paint, replace gutters.
Purchase price $70k. Renovation budget $15k. 6 months to finish renovation. ARV $160k. Located in Coos Bay.
My son is planning on living in the home. My son and his wife have some credit but not enough to qualify for this unfinished project on their own. I do and also have the experience to manage and perform all trade work and finish the project. I am prepared to provide $15000 down and provide the $15000 cash necessary for the renovation.
Status
Closed
Created
January 31, 2020 - 2:20pm
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