Loan amount
$115,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$180,000
{PP:$60,000}
ARV
64%
{ARV}
Property type
Single Family
Borrower Details
Credit score
700
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Wellborn
State
Florida
Loan Details
Purchase price
$60,000
Down payment
$5,000
Cost of improvements
$60,000
Estimated property value after repairs
$180,000
Additional Loan Information
I have an 1800's Historical Victorian home under contract that I am looking to rehab. I currently have a rental property in St. Pete but I would like to hold onto it rather than sell unless I have to in order to obtain this home. Estimated value 267k, owe 106k. The closing date is set for March 17th. I will be turning this place into a Wedding event venue/Airbnb plus Airbnb experience for Historical tours. I will be restoring the original cookhouse in the back and Also the 8 rooms inside the home. I have degree in Art Education and I am an excellent interior designer with 5 year experience in the Airbnb Hospitality area of running my own home with shorter term/transition to the area renters. This is a big project but I am looking for someone with a specific interest in this as well! Thanks!
Status
Open
Created
January 21, 2021 - 9:01am
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