Loan amount
$97,000
Loan type
As-Is Property Value
$240,000
LTV
41% {LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
650
Deal experience
30 deals
This loan scenario was submitted by a Broker
Property Details
State
North Carolina
Loan Details
Additional Loan Information
I purchased this property for $86K with owner-financing two years ago and been working on it as I had the money. I owe $37K on the building and I have put $65K in it and I need $60K to finish it up for a long term tenant who wants to take procession December 31st. I have a signed lease for $2,500/month for 5 years. Current value $136K. ARV $240K. Located in Tabor City, NC. Loan term at least 2 years; 4 years max.
Status
Created
November 16, 2019 - 6:15pm

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