Loan amount
$130,000
Loan type
As-Is Property Value
$210,000
LTV
62%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
700
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
Small retail store needing minor repairs of approx $25K. Plan to renovate and rent the building to myself (via another llc that I own). Exit strategy is to refinance or pay in full within 2-3 year. Purchase price $130K. Putting down 30-35%. Renovation timeline of 6 months. ARV $210K. I plan to go under contract on 7/16/20. Property located in Frostproof, FL.
Status
Closed
Created
July 14, 2020 - 9:37am
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