Loan amount
$215,000
Loan type
Refinance
{Fix&Rent}
Property value
$374,000
ARV
57%
{ARV}
Property type
Condo
Credit score
410
Deal experience
None
This loan scenario was submitted by a Broker
No
City
Washington
State
District of Columbia
Current mortgage balance
$180,000
Cost of improvements
$35,000
Estimated property value after repairs
$374,000
Additional Loan Information
1 BR/ 1.5 BTH condo with 748 sq ft. in rapidly developing Waterfront community of DC. This Condo needs a kitchen rehab, some tiling work in the main bathroom, some finishing touches to the flooring, baseboards, window treatments, closet doorframe, and some other miscellaneous items. Rents usually go for about $2500/month. Ideally i would like to fix and rent it out by either doing a refinance, cash out using my own name or by selling the property to my LLC to pursue the BRRR method.
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
November 24, 2023 - 6:59am
