Loan amount
$665,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$1,100,000
{PP:$750,000}
LTV
60%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
680
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Cocoa
State
Florida
Loan Details
Purchase price
$750,000
Down payment
$85,000
Additional Loan Information
Purchase an established car wash under market value due to seller not having tax returns. It is in the same county as my existing car wash and does approximately 80% of my car wash's $340K gross income with subpar equipment. I've seen their books, compared their official water use with my car wash's water use, and am confident that $250K gross income is on the low end. With $100K working capital, I want to upgrade one of their two in bay automatic machines, which will allow for increased sales.
Status
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Created
January 25, 2024 - 10:17pm
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