Loan amount
$774,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$1,250,000
{PP:$299,000}
ARV
62%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
745
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Fredonia
State
New York
Loan Details
Purchase price
$299,000
Down payment
$25,000
Cost of improvements
$500,000
Estimated property value after repairs
$1,250,000
Additional Loan Information
https://nys.mlsmatrix.com/matrix/shared/nQ4gXl5LSM/45LakeviewAvenue
Goal is to purchase and convert church to approximately 14 single units.
After conversion property will be rented. Local STELL has a back log of needed 1 bedroom and studio apartments.
After being rented most likely property will be refinanced cash out.
Goal is to purchase and convert church to approximately 14 single units.
After conversion property will be rented. Local STELL has a back log of needed 1 bedroom and studio apartments.
After being rented most likely property will be refinanced cash out.
Status
Open
Created
March 27, 2022 - 6:38pm
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