Loan amount
$715,500
Loan type
Purchase
{Fix&Rent}
After Repair Value
$850,000
{PP:$725,000}
ARV
84%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
574
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Ogden
State
Utah
Loan Details
Purchase price
$725,000
Down payment
$24,999
Cost of improvements
$15,000
Estimated property value after repairs
$850,000
Additional Loan Information
I am wanting to buy this property and use the 4 Plex into a sober living recovery house with 12 beds. Will use the duplex for an office and staff housing. Will charge $600 a month per bed. Once renovated an up and running for 6 months will refinance or I will sell the business. Either way will pay off the loan within 10 months.
Status
Open
Created
June 14, 2022 - 3:31pm
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