Loan amount
$130,000
Loan type
Purchase {Fix&Flip}
After Repair Value
$220,000 {PP:$80,000}
ARV
59% {ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
700
Deal experience
40 deals
This loan scenario was submitted by a Broker
No
Property Details
City
To Be Determined
State
Delaware
Loan Details
Purchase price
$80,000
Down payment
$1
Cost of improvements
$50,000
Estimated property value after repairs
$220,000
Additional Loan Information
The triplex is in contract. The house needs approximately $50K in renovations which should bring value to $220K. The annual rent should be $30K so the cap rate should be 12%. I have renovated and sold many houses in this area. I am currently working on 2 houses and these should be complete and on the market by April 1. The area is a growing area. I anticipate renovations will take about 2 months and hope to have it on the market by June 1.
Status
Created
January 6, 2021 - 9:20pm

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