Loan amount
$100,000
Loan type
As-Is Property Value
$220,000
LTV
46%
{LTV}
Property type
Single family home
Borrower Details
Credit score
679
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
This property is a single family ranch that is completely gutted. Located in Huntsville Alabama. I am in contract for a cash buy for $22,000. My plan is to rehab this house and turn it into a rental property. Renovation budget $86,780; with an extra $13,220 due to the suspected extra expenses in framing. Renovation timeline is 6 months to get it finished and get it on the market for rent. ARV $220K. Estimated rental in come would be $1,300 a month. Loan duration 18 months.
Status
Closed
Created
April 28, 2020 - 2:17pm
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