Loan amount
$300,000
Loan type
As-Is Property Value
$400,000
LTV
75%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
530
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
I purchased 11 acres of land with the intention to build 7-8 duplex units. The land was purchased for $320K with a mortgage to finance the full amount. I am seeking a construction loan to build the first duplex building, and perhaps begin on the second, which will produce 2 units worth an estimated $300K each. I am looking to rent each individual unit for $2000/month and up. Land is located in Gansevoort, NY.
Status
Closed
Created
September 17, 2019 - 10:49am
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