Loan amount
$436,500
Loan type
Purchase
{Construction}
After Repair Value
$685,000
{PP:$320,000}
ARV
64%
{ARV}
Property type
Other Commercial
Borrower Details
Credit score
590
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Ludington
State
Michigan
Loan Details
Purchase price
$320,000
Down payment
$8,500
Cost of improvements
$125,000
Estimated property value after repairs
$685,000
Additional Loan Information
Looking to purchase 3 acres across from the lake to build a wedding entertainment center. Large enough to hold 250 guest. Monthly rental income potential $20,000 per month starting the first month once construction is completed.
Status
Open
Created
March 13, 2024 - 8:59am
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