Loan amount
$360,000
Loan type
As-Is Property Value
$570,000
LTV
64%
{LTV}
Property type
Single family homes (2)
Borrower Details
Credit score
590
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
I want to purchase two properties at once from a seller. He owns two houses directly next to one another. He lives in one and the other is run down. I want to buy both properties from him simultaneously. He wants $279K for both of the dwellings. To have both houses in excellent condition, an estimated repair cost of $70K will be needed. ARV $570K. My renovation timeline is 12 to 24 months. Expect to be in contract after Memorial Day. Located in Houston, TX. I plan to live in one home and rent out the other for $1,500. Looking for a 18-24 month loan duration.
Status
Closed
Created
May 23, 2020 - 1:35pm
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