Loan amount
$48,000
Loan type
Purchase
{Rent&Hold}
Property value
$80,000
{PP:$60,000}
LTV
60%
{LTV}
Property type
Single Family
Credit score
650
Deal experience
11 deals
This loan scenario was submitted by a Broker
No
City
Mobile
State
Alabama
Purchase price
$60,000
Down payment
$12,000
Additional Loan Information
I have a 3 bedroom, 1 bath single family home under contract in Mobile, Alabama. The plan is to obtain a loan to cover the purchase price and the rehab. After renovations, the property should rent for $1200 per month. I am an investor local to the Mobile, Alabama area. I currently have 11 rental properties in which 10 are owned outright free and clear. I am usually a cash buyer, but I want to start the brrrr method in order to scale more quickly.
Status
Pending review: Please check your email. We will be sending you follow-up questions, if needed. Be sure to check your spam folder.
Created
April 11, 2024 - 2:06pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Alabama Birmingham | Montgomery | Huntsville | Mobile | Tuscaloosa | Hoover Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans