Loan amount
$1,200,000
Loan type
Refinance
{Fix&Rent}
After Repair Value
$2,450,000
ARV
49%
{ARV}
Property type
Other Commercial
Borrower Details
Credit score
500
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Vernon
State
Maryland
Loan Details
Current mortgage balance
$0
Cost of improvements
$1,200,000
Estimated property value after repairs
$2,450,000
Additional Loan Information
The partnership which owns the property is dissolving. One of the principals is being bought out as 10 of 33 dwellings are being rehabbed. The remaining 23 dwellings are occupied and income producing, enabling the debt to be serviced. After the rehab is complete and the remaining dwellings are rented, the portfolio will gain an additional $650k of value.
Status
Open
Created
November 13, 2021 - 12:14am
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