Loan amount
$999,500
Loan type
As-Is Property Value
$1,250,000
LTV
80%
{LTV}
Property type
Commercial / Office
Borrower Details
Credit score
700
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
Office building without any debt. Need to finance in order to buy more real estate. The property is owned by our family trust of which I am the trustee. The trust has allowed my business to use the property without paying rent for the last 20 years. I only pay for taxes and common area maintenance. The building has no mortgage, leans or debt. The property should rent for $10,000 a month. (5000 square feet x $26). The property is located in Naples Florida. Loan duration should be about 1-2 years so I can build a financial record to get a commercial mortgage.
Status
Closed
Created
April 23, 2020 - 1:04pm
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