Loan amount
$120,000
Loan type
As-Is Property Value
$300,000
LTV
40%
{LTV}
Property type
Commercial
Borrower Details
Credit score
660
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Ohio
Loan Details
Additional Loan Information
Purchase and renovation of a 20,000 sq. ft. church into a mixed use retail/entertainment venue. We're offering $120,000. Renovation budget of $60,000 to $100,000 with a 1-year timeline. ARV $300,000+. Not yet under contract. Located in Cincinnati OH. We will live in the building; there is an apartment built into the building, it's where the pastor lived when it was a church. Loan term of 5 to 10 years. We already have tenants lined up for this project, so after it is renovated we could re-fi with a different kind of loan.
Status
Closed
Created
November 7, 2019 - 8:13am
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