Loan amount
$50,000
Loan type
As-Is Property Value
$80,000
LTV
63%
{LTV}
Property type
Two family
Borrower Details
Credit score
655
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Ohio
Loan Details
Additional Loan Information
I've identified a property that I'd like to bid on at an auction. I would be putting down $5K the day of if I'm the winning bidder; purchase price not more than $50K. It is currently occupied. The monthly rents would be about $1000/mo. It appears to be in pretty good condition. I may want to do a little additional fix-up and look for an additional $10K ($60K total...75% LTV all in). I would be looking to refi into permanent financing within 6-9 months at most. The auction is in Mansfield, OH; about an hour and 20 min northeast of Columbus. The date of the auction is 7/30/20.
Status
Closed
Created
July 18, 2020 - 1:44pm
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