Loan amount
$75,000
Loan type
As-Is Property Value
$150,000
LTV
50%
{LTV}
Property type
Commercial / Medical
Borrower Details
Credit score
660
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Utah
Loan Details
Additional Loan Information
Looking at financing in a commercial property on Main Street in Castle Dale, UT. No contract or offer made. Property is in good shape and has been on market for a substantial amount of time due to rural location. Plan with property is to renovate and find more long term tenant than the one in place. Purchase price $70K. $10K down. Renovation budget $50K. 6 month timeline. ARV $150K. Estimated monthly rental income $1,000. Non-industrial, converting to doctor's office. Prefer 10 year loan term.
Status
Closed
Created
June 11, 2020 - 11:54am
Hard Money Lenders Now Offering Real Estate Investor Loans in Utah Salt Lake City | Provo | West Jordan | Orem | St George | Lehi Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans