Loan amount
$670,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$885,000
LTV
76%
{LTV}
Property type
Condo
Borrower Details
Credit score
557
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Westerville
State
Ohio
Loan Details
Current mortgage balance
$420,000
How much cash-out are you looking for?
$250,000
Additional Loan Information
Sorrento Renovation Project that is Owned. Here is the Cost Breakdown: Sorrento Renovation Cost Breakdown
SCOPE OF PROJECT
PHASES OF PROJECT AND PROJECT COST
*Phase 1: Bath Rooms: (3) - Full Baths and (1) - Half Bath
Master Bath: Install new plumbing/electric/walls/tile/trim/flooring in Master Bath. Install a new corner soaking tub 82"x 62", a new Moen Tub faucet system and a new Moen Massage system. Install a new double boiswl vanity with 2 new Moen lavatory faucets. Build a new separate water closet room and install a new Kohler toilet and pocket door. Build a new separate 7 ft shower with a new Moen shower faucet system, a new Moen shower massage system plus install a new glass shower door. Install new wood flooring, new bathroom accessories, new lighting, upgrade electricity as needed, plus paint the Master Bath. Install Rinnai Whole House Tank-less Hot Water Heater in addition to the existing 40 gallon Hot Water Heater.
Guest Bath: Install new plumbing/electric/dry walls/trim/flooring in Guest Bath. Install a new single bowl vanity with a new Moen lavatory faucet and a new Kohler water closet. Install a new 6 ft shower with a new Moen shower faucet system, a new Moen massage system plus a new glass shower door. Install a new sliding door to cover wall shelving. Install new wood flooring, new bathroom accessories, new lighting, upgrade electricity as needed, plus paint the Guest Bath.
1/2 Bath: Install new plumbing/electric in Half Bath. Install a new single bowl vanity with a new Moen lavatory faucet and a new Kohler water closet. Install new bathroom accessories, new lighting, upgrade electricity as needed plus paint the 1/2 Bath.
Downstairs Bath: Install new plumbing/electric/dry walls/trim/flooring in Downstairs Bath. Install new single bowl vanity with a new Moen lavatory faucet and a new Kohler water closet. Build a new 7 ft shower with a new Moen shower faucet system, a new Moen massage system, plus install a new glass shower door. Install new flooring, new bathroom accessories, new lighting, upgrade electricity as needed plus paint the Downstairs bath.
Phase I - (4) Bathrooms: Labor & Materials to complete: $50,000
*Phase 2: Kitchen
Kitchen: Install new GE Cafe' Professional kitchen appliances (6 total) in Kitchen. Install a new 36"
stainless steel cook top, a new Ice Maker/refrigerator, a new convection oven/microwave, new built-in double wall ovens, a new beverage refrigerator plus a new 3 rack dishwasher. Install a new Moen kitchen sink faucet with sprayer, a new Kohler Kitchen farm sink plus a new American Standard 1 hp Quiet series disposer. Replace existing back Kitchen counter-top and back-splash with new Granite
matching the 15 ft Granite kitchen Island. Install new lighting, a new chandelier and upgrade electricity as needed. Install all new Kitchen cabinet knobs to match the rest of the cabinet knobs throughout the house plus paint the Kitchen. Phase 2 - Kitchen: Labor and Materials: $20,000
*Phase 3: Laundry Room:
Laundry Room: Replace existing counter-top and back-splash with new Granite same as the Granite used in the Main kitchen. Install a new Moen Laundry sink, a new Moen Laundry sink facet with sprayer. Install all new Laundry cabinet knobs to match the rest of the cabinet knobs throughout the house. Phase 3 - Laundry room: Labor & Materials: 2,000.00
*Phase 4: Painting and Lighting
Painting & Lighting: Sand/Prime/Paint the whole house approximately 4,000 square feet. Paint to be use is Sherwin Williams for all the house trim and cabinets. Benjamin Moore paint to be used for painting the whole house including the finished basement. Install new lighting throughout the house as specified in each phase of this project. Install new ceiling fans/lighting in the upstairs Office, the new downstairs 4th bedroom and the new downstairs workout room. Phase 4 - Painting and Lighting: Labor & Materials: $23,000
*Phase 5: Downstairs Kitchen
Downstairs Kitchen: Install new GE Cafe' Professional kitchen appliances (4). Install a new
a new convection oven/microwave, a new mini refrigerator/freezer plus a new 3 rack dishwasher. Replace existing Kitchen counter-top and back-splash with new Granite the same Granite used in the Main Kitchen. Install new bar sink, a new Moen kitchen sink faucet with sprayer plus a new American Standard 1 hp Quiet series disposer. Install new flooring and all new cabinet knobs. Phase 5 - Downstairs Kitchen: Labor & Materials: 12, 000
Phase 6: Basement: Adding 4th Bedroom/ Workout room/Storage room
Phase 6: Basement: Build new 4th bedroom downstairs expanding the finished basement. Build a new workout room downstairs expanding the finished basement. Build a new storage room with shelving again expanding the finished basement. Install new doors, new trim, new lighting, new ceiling fans plus new electric. Phase 6 - Adding 4th Bedroom/Workout room/Storage room: Labor and Materials: 25,000
Phase 7: Flooring
Phase 7 Flooring: Install new wood flooring the same as the wood flooring throughout the house in the office, laundry room, master bath and guest bath. Install new carpeting in 4 bedrooms, theatre room and stairs. Phase 7 Flooring: Labor & Materials: 18,000
Contract Quote Total $157,500
Contract Quote itemized above, $ 150,000.00 plus $ 7,500
built in for Contingency, 5%. Contract Quote Total $157,500.00
SCOPE OF PROJECT
PHASES OF PROJECT AND PROJECT COST
*Phase 1: Bath Rooms: (3) - Full Baths and (1) - Half Bath
Master Bath: Install new plumbing/electric/walls/tile/trim/flooring in Master Bath. Install a new corner soaking tub 82"x 62", a new Moen Tub faucet system and a new Moen Massage system. Install a new double boiswl vanity with 2 new Moen lavatory faucets. Build a new separate water closet room and install a new Kohler toilet and pocket door. Build a new separate 7 ft shower with a new Moen shower faucet system, a new Moen shower massage system plus install a new glass shower door. Install new wood flooring, new bathroom accessories, new lighting, upgrade electricity as needed, plus paint the Master Bath. Install Rinnai Whole House Tank-less Hot Water Heater in addition to the existing 40 gallon Hot Water Heater.
Guest Bath: Install new plumbing/electric/dry walls/trim/flooring in Guest Bath. Install a new single bowl vanity with a new Moen lavatory faucet and a new Kohler water closet. Install a new 6 ft shower with a new Moen shower faucet system, a new Moen massage system plus a new glass shower door. Install a new sliding door to cover wall shelving. Install new wood flooring, new bathroom accessories, new lighting, upgrade electricity as needed, plus paint the Guest Bath.
1/2 Bath: Install new plumbing/electric in Half Bath. Install a new single bowl vanity with a new Moen lavatory faucet and a new Kohler water closet. Install new bathroom accessories, new lighting, upgrade electricity as needed plus paint the 1/2 Bath.
Downstairs Bath: Install new plumbing/electric/dry walls/trim/flooring in Downstairs Bath. Install new single bowl vanity with a new Moen lavatory faucet and a new Kohler water closet. Build a new 7 ft shower with a new Moen shower faucet system, a new Moen massage system, plus install a new glass shower door. Install new flooring, new bathroom accessories, new lighting, upgrade electricity as needed plus paint the Downstairs bath.
Phase I - (4) Bathrooms: Labor & Materials to complete: $50,000
*Phase 2: Kitchen
Kitchen: Install new GE Cafe' Professional kitchen appliances (6 total) in Kitchen. Install a new 36"
stainless steel cook top, a new Ice Maker/refrigerator, a new convection oven/microwave, new built-in double wall ovens, a new beverage refrigerator plus a new 3 rack dishwasher. Install a new Moen kitchen sink faucet with sprayer, a new Kohler Kitchen farm sink plus a new American Standard 1 hp Quiet series disposer. Replace existing back Kitchen counter-top and back-splash with new Granite
matching the 15 ft Granite kitchen Island. Install new lighting, a new chandelier and upgrade electricity as needed. Install all new Kitchen cabinet knobs to match the rest of the cabinet knobs throughout the house plus paint the Kitchen. Phase 2 - Kitchen: Labor and Materials: $20,000
*Phase 3: Laundry Room:
Laundry Room: Replace existing counter-top and back-splash with new Granite same as the Granite used in the Main kitchen. Install a new Moen Laundry sink, a new Moen Laundry sink facet with sprayer. Install all new Laundry cabinet knobs to match the rest of the cabinet knobs throughout the house. Phase 3 - Laundry room: Labor & Materials: 2,000.00
*Phase 4: Painting and Lighting
Painting & Lighting: Sand/Prime/Paint the whole house approximately 4,000 square feet. Paint to be use is Sherwin Williams for all the house trim and cabinets. Benjamin Moore paint to be used for painting the whole house including the finished basement. Install new lighting throughout the house as specified in each phase of this project. Install new ceiling fans/lighting in the upstairs Office, the new downstairs 4th bedroom and the new downstairs workout room. Phase 4 - Painting and Lighting: Labor & Materials: $23,000
*Phase 5: Downstairs Kitchen
Downstairs Kitchen: Install new GE Cafe' Professional kitchen appliances (4). Install a new
a new convection oven/microwave, a new mini refrigerator/freezer plus a new 3 rack dishwasher. Replace existing Kitchen counter-top and back-splash with new Granite the same Granite used in the Main Kitchen. Install new bar sink, a new Moen kitchen sink faucet with sprayer plus a new American Standard 1 hp Quiet series disposer. Install new flooring and all new cabinet knobs. Phase 5 - Downstairs Kitchen: Labor & Materials: 12, 000
Phase 6: Basement: Adding 4th Bedroom/ Workout room/Storage room
Phase 6: Basement: Build new 4th bedroom downstairs expanding the finished basement. Build a new workout room downstairs expanding the finished basement. Build a new storage room with shelving again expanding the finished basement. Install new doors, new trim, new lighting, new ceiling fans plus new electric. Phase 6 - Adding 4th Bedroom/Workout room/Storage room: Labor and Materials: 25,000
Phase 7: Flooring
Phase 7 Flooring: Install new wood flooring the same as the wood flooring throughout the house in the office, laundry room, master bath and guest bath. Install new carpeting in 4 bedrooms, theatre room and stairs. Phase 7 Flooring: Labor & Materials: 18,000
Contract Quote Total $157,500
Contract Quote itemized above, $ 150,000.00 plus $ 7,500
built in for Contingency, 5%. Contract Quote Total $157,500.00
Status
Open
Created
January 31, 2024 - 5:38pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Ohio Columbus | Cleveland | Cincinnati | Toledo | Akron | Dayton Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans