Loan amount
$42,500,000
Loan type
Purchase
{Construction}
After Repair Value
$80,000,000
{PP:$4,000,000}
ARV
53%
{ARV}
Property type
Other Commercial
Borrower Details
Credit score
620
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Leavenworth
State
Kansas
Loan Details
Purchase price
$4,000,000
Down payment
$500,000
Cost of improvements
$39,000,000
Estimated property value after repairs
$80,000,000
Additional Loan Information
Currently negotiating with the current landowner and developer to acquire 53 acres of land to develop 180 3bdr townhomes w/garage (1,250 sf) and 75 single family rentals w/garage (1,400 sq ft). Our company is new but will include experienced partners including our GC. We have an experienced owners representative on contract to manage the process for us and will either partner with the experienced developer who owns this land or retain him as an advisor to the project. We are looking for initial funding to acquire the land. If possible, we would also like to look at seed funding for soft costs as well and potentially construction loan once we get to that milestone.
Status
Open
Created
August 24, 2023 - 3:10pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Kansas Wichita | Overland Park | Kansas City | Olathe | Topeka | Lawrence Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans