Loan amount
$108,000
Loan type
As-Is Property Value
$120,000
LTV
90%
{LTV}
Property type
Commercial / Laundromat
Borrower Details
Credit score
680
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
Acquire an existing laundromat that’s has been in business for at least 10 years in a busy Queens location. Owner is a retiree and is moving to take care of her grand kids. Purchase price $119K. Can put down 5-10%. Signed a buyer agreement. Estimate monthly revenue of $10K. Prefer 10+ year loan duration.
Status
Closed
Created
July 27, 2020 - 10:14am
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