Loan amount
$860,000
Loan type
Purchase {Construction}
After Repair Value
$2,500,000 {PP:$690,000}
ARV
34% {ARV}
Property type
Vacant Land
Borrower Details
Credit score
638
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Arco
State
Idaho
Loan Details
Purchase price
$690,000
Down payment
$25,000
Cost of improvements
$195,000
Estimated property value after repairs
$2,500,000
Additional Loan Information
My husband will continue running his construction companies. He has 1 in SE Idaho and 1 in Nevada. We will do our own labor to build this. 118 acres is currently in hay and fully irrigated. We will keep most of it in hay and produce and sell small bales of grassy alfalfa. We will take about 20 acres and build our main home, outdoor arena, stalls, heated indoor arena with stalls and viewing seats. We see a great need for this specific hay in the small bales, and a need for access to indoor arena for public access. The stalls will be for boarding horses. The arenas will provide space for 4H, training, lessons, and various events such as vendor fairs and gymkhanas. We plan on providing services available to the community that are currently lacking in the area such as therapy sessions aith horses. People who would benefit are those in need of physical therapy and emotional/mental therapy. We have already talked to many in the community who would benefit and those include 1 in a wheelchair who happens to also have a horse they could donate to the program, many veterans with PTSD, many with Austism or Downs as well, many with depression. We know with these services and more not yet on our plate, we could make a positive impact in our community and surrounding areas. It would be feasible to say that we could even find a service to offer the community that encourages tourists to stay in our tiny town (ie: guided trail rides).
Status
Created
November 30, 2021 - 1:05pm

Hard Money Lenders Now Offering Real Estate Investor Loans in Idaho Boise City | Meridian | Nampa | Idaho Falls | Caldwell | Pocatello Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans