Loan amount
$650,000
Loan type
As-Is Property Value
$1,000,000
LTV
65%
{LTV}
Property type
Commercial
Borrower Details
Credit score
600
Deal experience
10 deals
This loan scenario was submitted by a Broker
Property Details
State
Ohio
Loan Details
Additional Loan Information
Acquisition of property and renovation of sporting arena for E-sports facility. Contract on table to purchase now - looking to close before June. City will still be actively participating in success. Gary, Indiana. $100K purchase/control and $600K(+/-) for renovations and turning the property into an E-sports facility. We already have license, site control etc. Backer pulled out due to the covid-19 issues. The property is being used on the parking garage side at a positive return. We are looking for the loan to be 18-24 months.
Status
Closed
Created
May 24, 2020 - 10:09am
Hard Money Lenders Now Offering Real Estate Investor Loans in Ohio Columbus | Cleveland | Cincinnati | Toledo | Akron | Dayton Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans