Loan amount
$1,700,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$2,800,000
{PP:$1,700,000}
ARV
61%
{ARV}
Property type
Single Family
Borrower Details
Credit score
800
Deal experience
15 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Garfield Heights
State
Ohio
Loan Details
Purchase price
$1,700,000
Down payment
$100,000
Cost of improvements
$100,000
Estimated property value after repairs
$2,800,000
Additional Loan Information
Transfer of ownership of an LLC that hold 14 properties in Garfield Heights, 6 properties in Maple Heights, 3 properties in Cleveland Heights, 2 properties in Bedford, and 1 property in Cleveland. All properties are occupied except 1. Some renovations may be needed. Purchase price is very low relative to market value. I'm looking for lenders that either do not look at the LTC ratio or who can provide a LTC ratio of 95% or more.
Status
Open
Created
February 13, 2024 - 4:08pm
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