Loan amount
$365,000
Loan type
Refinance
{Construction}
After Repair Value
$1,400,000
ARV
26%
{ARV}
Property type
Gas/Convenient Station
Borrower Details
Credit score
720
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Duson
State
Louisiana
Loan Details
Current mortgage balance
$100,000
Cost of improvements
$265,000
Estimated property value after repairs
$1,400,000
Additional Loan Information
I own a 5200 sq ft commercial building located in Duson Louisiana. I am in the process of converting it into a brand new gas station and c-store.
I am looking to borrow roughy $365k to pay off the 100k mortgage balance and the remaining 265k to finish inside construction of the building.
I will be funding outside gas construction out of my pocket. (Gas canopy, underground tanks, pumps, gas price sign etc)
The after repair value will be about $1.4mill
I have many years of experience in the gas station business, I own several already.
I am looking to borrow roughy $365k to pay off the 100k mortgage balance and the remaining 265k to finish inside construction of the building.
I will be funding outside gas construction out of my pocket. (Gas canopy, underground tanks, pumps, gas price sign etc)
The after repair value will be about $1.4mill
I have many years of experience in the gas station business, I own several already.
Status
Open
Created
November 7, 2023 - 2:44pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Louisiana New Orleans | Baton Rouge | Shreveport | Lafayette | Lake Charles | Bossier City Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans