Loan amount
Loan type
Purchase {Fix&Rent}
After Repair Value
$75,000 {PP:$35,000}
60% {ARV}
Property type
Single Family
Borrower Details
Credit score
Deal experience
This loan scenario was submitted by a Broker
Property Details
Loan Details
Purchase price
Down payment
Cost of improvements
Estimated property value after repairs
Additional Loan Information
Looking to purchase an existing manufactured home on one acre with well and septic in Mid-Michigan. The home was owned by an elderly person who passed, and needs siding, plumbing repairs, and general updating. Once completed, I want to rent the home to a tenant, and provide toy storage (campers, boats, etc.) on the property for a monthly fee. I’ll personally be a toy storage tenant from day one, allowing for immediate cash flow while work proceeds on the residence.

Meeting with sellers on Sunday, 11 Feb to tour the property.

My credit is damaged but I can provide proof of Federal employment with $115k annual income and the ability to do provide bi-weekly disbursement from my payroll. Thanks!
February 10, 2024 - 8:13pm

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