Loan amount
$50,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$150,000
LTV
33%
{LTV}
Property type
Vacant Land
Borrower Details
Credit score
580
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Talladega
State
Alabama
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$50,000
Additional Loan Information
I have 2.5 acres in rural Talladega, Alabama l inherited from my uncle, l just relocated from Atlanta with hopes of getting the land cleaned off and starting a business. Because the land is located 7 minutes away from one of Talladega 's main attractions, Talladega Superspeedway, l began researching and noticed the race fans have limited options for lodging, and the local Hotels raise they're prices during race season. So l wanted build a tiny house community, container homes, prefab homes etc. I have visited the attractions (Tiny homes)next to the Racetrack, and seeing that it was just that a Tiny home with a futons, a toilet and sink.
My project will be Modernized, contemporary, relaxed setting,small taste of Luxury, also Private Property knowing that the race fans are harrased and targeted by the Local Police departments.
My project will be Modernized, contemporary, relaxed setting,small taste of Luxury, also Private Property knowing that the race fans are harrased and targeted by the Local Police departments.
Status
Open
Created
November 1, 2022 - 2:37am
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