Loan amount
$77,500
Loan type
Purchase {Fix&Flip}
After Repair Value
$135,000 {PP:$67,500}
ARV
57% {ARV}
Property type
Mobile Home Park
Borrower Details
Credit score
700
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Rutherfordton
State
North Carolina
Loan Details
Purchase price
$67,500
Down payment
$15,000
Cost of improvements
$25,000
Estimated property value after repairs
$135,000
Additional Loan Information
I have this property under contract. It's a double/triple wide mobile home that has 2 other lots with it. Each lot has a well and septic tank already installed. Purchase price is $67,500 repairs will be $25,000 consisting of new roof, deck, bathroom repairs, paint and flooring throughout. After repair value and sale price I listed conservative at $135,000 but should be $150,000. My plan is to fix this property and sell it within 2 months keeping the other 2 lots to put separate homes on them at a later date.
Thanks in advance.
Status
Created
July 18, 2021 - 8:58pm

Hard Money Lenders Now Offering Real Estate Investor Loans in North Carolina Charlotte | Raleigh | Greensboro | Durham | Winston-Salem | Fayetteville Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans