Loan amount
$289,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$380,000
{PP:$219,000}
ARV
76%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Orwell
State
Ohio
Loan Details
Purchase price
$219,000
Down payment
$5,000
Cost of improvements
$75,000
Estimated property value after repairs
$380,000
Additional Loan Information
I have been interested in investment property. This rental has six apartments and a commercial business. They all in need of updated apartments. Then would offset the down payment. It has in the future be an opportunity buildable a parcel adds to the value of the property. I do have someone who would lease the commercial. Which also requires updates will help with the mortgage payments. The place needs to renovate at around 75k the updates and make it up to code.
Status
Open
Created
June 14, 2021 - 2:28pm
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