Loan amount
$388,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$480,000 {PP:$480,000}
LTV
81% {LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
599
Deal experience
3 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Columbus
State
Georgia
Loan Details
Purchase price
$480,000
Down payment
$92,000
Additional Loan Information
12-unit complex (2Bed 1Bath),
purchase a small 12-unit complex for 480,000 ...The Seller is willing to take back 20% of this purchase all units are rented except 1 unit down for repair but here are the numbers, $475 per unit for now. ($5,225 total income per month)
By 1 Jan, $525 per unit, by July, $750 per unit. The Seller would like to upgrade the units by injecting 5,000 - 7,000
into the units. But it's not necessary, the units are all livable except for one. He is looking for an 80% LTV to purchase the units.
Status
Created
December 1, 2022 - 4:36pm

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