Loan amount
$150,000
Loan type
As-Is Property Value
$230,000
LTV
66%
{LTV}
Property type
Single family home
Borrower Details
Credit score
720
Deal experience
23 deals
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
Property purchased in 2008 for $69.9K. Currently owe $48K. l plan to pay it off with a free and clear lot, valued at $100K, down the road from it. Loan is for permitted 4br/2ba bungalow construction project for rental investment. This property and project represents two back to back real estate properties in my portfolio, one commercial housing my business and the other residential. Estimated rental income is $2,000-2,400. Expected not to have any management fee since the tenants are next door neighbors. 6 month construction timeline. ARV $225K. Property located in Tampa, FL. Loan duration 12-13 months.
Status
Closed
Created
June 22, 2020 - 9:23am
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