Loan amount
Loan type
Purchase {Fix&Rent}
After Repair Value
$220,000 {PP:$70,000}
34% {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
5 bedroom 2 bath home built in 1913, original hardwood flooring, 1600 sq ft and lot size of 10,000 sq ft. All work is cosmetic and I do remodel myself. I do plan on updating electrical from the knob and tube, I have family with their own electrical and construction companies so the work is not a problem for me update windows and new roof within the next year! Update the detached garage. Beautiful back yard in a historic part of town. I'd like to update the exterior as well with a new paint job of course. I was purchasing with cash from an inheritance and signed and set to close on the 29th of December, the inheritance was broke down into distributions due to more assets found. Now I'm set to close and only have 20000 cash. There are more distributions coming over the next couple of months, this distribution was based on assets at 2.3 million dollars, there is 2 more distributions coming just not in time for the close date on December 29th.
December 14, 2023 - 9:26am

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