Loan amount
$725,000
Loan type
Purchase
{Construction}
After Repair Value
$1,500,000
{PP:$250,000}
ARV
48%
{ARV}
Property type
Single Family
Borrower Details
Credit score
553
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Galena
State
Illinois
Loan Details
Purchase price
$250,000
Down payment
$25,000
Cost of improvements
$500,000
Estimated property value after repairs
$1,500,000
Additional Loan Information
Planning to purchase several acres of vacant land within Galena Territory and build a few homes to rent year round for a profit. It’s a great opportunity because of the year round tourists and activities, and the need for short term and long term accommodations within the area.
Status
Closed
Created
February 26, 2023 - 10:27pm
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