Loan amount
$1,300,000
Loan type
Purchase {Fix&Rent}
After Repair Value
$3,000,000 {PP:$850,000}
ARV
43% {ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
788
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Ivyland
State
Pennsylvania
Loan Details
Purchase price
$850,000
Down payment
$300,000
Cost of improvements
$750,000
Estimated property value after repairs
$3,000,000
Additional Loan Information
Currently sits at 4 units with $6,300 monthly rent. The sale comes with a zoning change to 8 units, permits paid for, land development drawings paid for and approved, and architects drawings paid for. I have a unique oppurtunity to work on half the violins at a time and collect rent to offset the mortgage. ARV is $3M, and the monthly rents will be over $19k. I’m a licensed contractor and agent also. I have flipped a property in a while with my name on the deed, but I do projects like this for a living.
Status
Created
February 20, 2024 - 8:49am

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