Loan amount
$150,000
Loan type
As-Is Property Value
$300,000
LTV
50%
{LTV}
Property type
Commercial
Borrower Details
Credit score
720
Deal experience
10 deals
This loan scenario was submitted by a Broker
Property Details
State
Arizona
Loan Details
Additional Loan Information
Seeking to build luxury condo units on just more than 1 acre in an affluent golf community with 4 or more golf course with in a 10 minute golf cart ride. Located on the border of Cave Creek and Carefree, Arizona. Current population seeking to down size, and a dream for Californians to get away from congested, expensive, crime ridden, high taxed, cities. Property is already owned. It was purchased for $300K and is owned outright with no debts. Looking for a 6-12 month loan for early development costs. Plan to pay off this loan with a sale of a large property currently for sale.
Status
Closed
Created
December 9, 2019 - 3:26pm
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