Loan amount
$1,500,000
Loan type
As-Is Property Value
$1,880,000
LTV
80%
{LTV}
Property type
Commercial / Strip mall
Borrower Details
Credit score
715
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Illinois
Loan Details
Additional Loan Information
We are looking to obtain funding for a 5 unit strip mall. The purchase price is $400K. Additionally, we are looking to secure funding to cover the build-out cost in the amount of $1.1M. Construction timeline of 12 weeks. ARV $1.5M. Will include an investment property worth $380K owned free and clear as additional collateral. Pending offer until financing pre-approval is received. Property located in Chicago. Estimated monthly rental income of $12K. Will rent 4 out of 5 units. Loan duration 5-7 years.
Status
Closed
Created
August 17, 2020 - 8:35pm
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