Loan amount
$0
Loan type
As-Is Property Value
$500,000
LTV
0%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
629
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Alaska
Loan Details
Additional Loan Information
I have an owner finance on a property with 6 air Bnb rentals plus a residence. I currently hold the deed of trust.
The business is turnkey including an abundance of intellectual property, seem-less reservation calendar integrated with many online booking channels and payment processor.
I have been in control and running this company and living in the residence since 2019. The business revenue in 8 winter months is: $37,000. 3 summer months: $76,000.
Summer 2020 coronavirus revenue:
$34,628.99 (Half of 2019). However, I already have reservation from out of state tourist for 2021.
Winter 2020 coronavirus: no change.
I’m asking to borrow $200,000.
$121,000. Pay off current mortgage.
$39,000 pay off seller
$40,000 working capital for upgrading units.
The working capital is preferred not a must.
The business is turnkey including an abundance of intellectual property, seem-less reservation calendar integrated with many online booking channels and payment processor.
I have been in control and running this company and living in the residence since 2019. The business revenue in 8 winter months is: $37,000. 3 summer months: $76,000.
Summer 2020 coronavirus revenue:
$34,628.99 (Half of 2019). However, I already have reservation from out of state tourist for 2021.
Winter 2020 coronavirus: no change.
I’m asking to borrow $200,000.
$121,000. Pay off current mortgage.
$39,000 pay off seller
$40,000 working capital for upgrading units.
The working capital is preferred not a must.
Status
Closed
Created
October 27, 2020 - 11:19am
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