Loan amount
$72,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$103,000
{PP:$95,000}
LTV
70%
{LTV}
Property type
Single Family
Borrower Details
Credit score
670
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Joliet
State
Illinois
Loan Details
Purchase price
$95,000
Down payment
$23,000
Additional Loan Information
Looking to start a portfolio. Buying abandoned and other lower priced properties that don’t need excessive repairs. Fixing and renting as long term rentals. Eventually will do a cash-out refinance to buy another property. Looking to make an offer on a particular single family residence on a good side of town near a college. Currently a homeowner with a second vacation home so not entirely new to the process. I have also done extensive research and taken many investing courses so I am prepared to initiate and establish an REI portfolio.
Status
Open
Created
January 17, 2021 - 9:42am
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