Loan amount
$65,000
Loan type
As-Is Property Value
$242,000
LTV
27%
{LTV}
Property type
Commercial / Bar
Borrower Details
Credit score
522
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
Can buy a commercial piece of property worth $199K for $80K. I used to work for the current owner and she is like a 2nd mother to me. I would like to upgrade the building and reopen it as a bar and grill. I do have a cosigner. Estimated renovation budget $15K. Work will take 60 days to complete. ARV $242K. Not yet in contract. Property located in Avinger, TX 75630. Prefer a 5-10 year loan, if possible.
Status
Closed
Created
April 8, 2020 - 8:34am
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