Loan amount
$310,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$600,000
{PP:$240,000}
ARV
52%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
730
Deal experience
6 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Toledo
State
Ohio
Loan Details
Purchase price
$240,000
Down payment
$50,000
Cost of improvements
$120,000
Estimated property value after repairs
$600,000
Additional Loan Information
Additional Loan Information
Its 12 units in toledo OH VALUE AD. purchase price $240k. Needs $50k to $120k in rehab.
7 units rented m2m, 5 need repairs and updates. building size about 5500 sq ft
STRATEGY. To remove all tenants, and fully update and renovate the property.
renovate all units with laminate flooring, and new cabinets and fixtures as needed, new roof, and mechanicals.
rent through VA at $623 per month per unit. letter for offer available to view, and there is waiting list.
Cap after all fixed and rented is 20%
Cash out refinance at 75% after stabilized and keep long term.
I have Liquid reserves for down payment and reserves for payments at the bank of $220k plus $500k + in crypto accounts
over 730 credit score
In real estate business since 1997.
Former real estate broker and builder. over 20 years property management experience.
Was retired and recently got back into the market as commercial mortgage broker and investor, so I can build multy unit portfolio for my family.
Sold rehab in FL few month ago, and rehabbed and sold quad 2 years ago. sold unfinished home, and managing 3 properties for a trust at the moment.
Looking for 75% to 80% LTV for acquisition and 90% to 100% for construction costs.
Looking for mortgage broker preferred pricing and looking to establish relationship with lender.
Planning to do 1 to 2 million in projects personally and 2 to 5m in clients submissions for new loans.
Please reply with you offers asap.
Its 12 units in toledo OH VALUE AD. purchase price $240k. Needs $50k to $120k in rehab.
7 units rented m2m, 5 need repairs and updates. building size about 5500 sq ft
STRATEGY. To remove all tenants, and fully update and renovate the property.
renovate all units with laminate flooring, and new cabinets and fixtures as needed, new roof, and mechanicals.
rent through VA at $623 per month per unit. letter for offer available to view, and there is waiting list.
Cap after all fixed and rented is 20%
Cash out refinance at 75% after stabilized and keep long term.
I have Liquid reserves for down payment and reserves for payments at the bank of $220k plus $500k + in crypto accounts
over 730 credit score
In real estate business since 1997.
Former real estate broker and builder. over 20 years property management experience.
Was retired and recently got back into the market as commercial mortgage broker and investor, so I can build multy unit portfolio for my family.
Sold rehab in FL few month ago, and rehabbed and sold quad 2 years ago. sold unfinished home, and managing 3 properties for a trust at the moment.
Looking for 75% to 80% LTV for acquisition and 90% to 100% for construction costs.
Looking for mortgage broker preferred pricing and looking to establish relationship with lender.
Planning to do 1 to 2 million in projects personally and 2 to 5m in clients submissions for new loans.
Please reply with you offers asap.
Status
Open
Created
July 21, 2022 - 5:24pm
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