Loan amount
$40,000
Loan type
As-Is Property Value
$100,000
LTV
40%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
671
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
Virginia
Loan Details
Additional Loan Information
2 family property, signed contract and already put deposit down. This was offered at an auction from the City of Petersburg, VA. Purchase price is $23,000. I put $4,000 down. It is a 2 family duplex, rental property. Monthly rental income is $1800. Loan duration is 6 months. Total renovation budget is approximately $25,000. Timeline is 3-6 months, depending on the unknown. Estimated ARV is $90-100k.
Status
Closed
Created
August 3, 2020 - 9:55am
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