Loan amount
$1,400,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$6,000,000
{PP:$1,900,000}
ARV
23%
{ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
500
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Aldie
State
Virginia
Loan Details
Purchase price
$1,900,000
Down payment
$750,000
Cost of improvements
$250,000
Estimated property value after repairs
$6,000,000
Additional Loan Information
Had contract to sell property but there was a fire at the property. I have already spent $750,000.00, doing repairs which left be broke with all of my credit exhausted. I am waiting on the insurance payment which is taking months. I probably can finish the minimal repairs with another $250,000.00.
Status
Closed
Created
May 25, 2024 - 11:28am
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