Loan amount
$1,800,000
Loan type
As-Is Property Value
$3,500,000
LTV
52%
{LTV}
Property type
Commercial / Restaurant
Borrower Details
Credit score
680
Deal experience
200 deals
This loan scenario was submitted by a Broker
Property Details
State
Oklahoma
Loan Details
Additional Loan Information
This property has been a restaurant 29 years. Owner died and I bought it 4 years ago. I have put 2 million cash into it. I need 1.2 million to pay bank off then $520K to finish. Property located in Chickasha Oklahoma. Should take 60 days to complete the remaining work. Loan can be short term, and I can refinance once the work is complete, or long-term at 15-20 years.
Status
Closed
Created
June 1, 2020 - 8:20am
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