Loan amount
$400,000
Loan type
As-Is Property Value
$400,000
LTV
100%
{LTV}
Property type
Land
Borrower Details
Credit score
630
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Colorado
Loan Details
Additional Loan Information
19.34 acres in Milliken being sold for $388K. Property to be used to board horses on and park my semi trucks on. Not currently in contract. Looking for 30 year loan or anywhere where the payments can be kept low. I want to put an apartment attached to a barn that in the future will house the farm maintenance crew. As it land develops into a horse boarding and training facility. That will be operated by my daughter. The farm will give me a place to park some of my trucks and a place to maintain the trucks. Which will remove a $350 month bill. The farm will have a place for my daughter and I to live which will remove a $1,500 a month bill. The farm will board our horses that are there for training and to be sold. Which will remove a $450 month bill. The farm will have boarders who pay board and take lessons at the facility and which will provide income for the farm. The farm will also have scheduled events, horse shows, roping, team pinning and such. Which will also provide income. I do have extensive experience in the livestock industry. My daughter as been in the livestock industry her entire life.
Status
Closed
Created
September 10, 2019 - 11:14pm
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