Loan amount
$245,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$385,000
{PP:$0}
LTV
64%
{LTV}
Property type
Restaurant
Borrower Details
Credit score
618
Deal experience
3 deals
This loan scenario was submitted by a Broker
No
Property Details
State
Virginia
Loan Details
Down payment
$0
Additional Loan Information
This is a property located in the heart of Petersburg. This was one of the top restaurants in the Mid-Atlantic Region. The owner has retired and wants to sell the property now. The property needs some renovations done and it will be back in business. Once .the renovation is completed I will refinance the loan. Purchase price 150k, rehab 50k, ARV 225k, I also own another property that can be used as additional collateral, value 160k owe 45k
Status
Open
Created
December 28, 2020 - 10:04am
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