Loan amount
$27,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$60,000 {PP:$30,000}
LTV
45% {LTV}
Property type
Other Commercial
Borrower Details
Credit score
560
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Cheyenne
State
Oklahoma
Loan Details
Purchase price
$30,000
Down payment
$3,000
Additional Loan Information
This is a auto repair shop that comes with 2bays a office a large courtyard a corner store and 3 other buildings on property it sits on 1.5 acres of land and has 2 lifts 3 compressors tire machine and a lot of auto shop needs , I am a master mechanic with over 25 years of experience the town this is located in has around 6000 people in it and zero mechanics there is about 6 towns around it that have no mechanics either the closest decent mechanic is about an hour away from this town I have spoken with many of the people in the town trying to buy there sitting cars but almost all say they hope to get it fixed but are unable to pay to have their cars towed 40miles to get them repaired or that they can't pay the high cost most shops charge I want this shop to get this money sitting here and help them with a cheaper repair bill I believe I will clear over 100,000 with in a years time and only grow bigger by the year I was only able to find this place because of all the people I have already helped I have the place under contract for a 27,500 price
Status
Created
April 9, 2024 - 11:46pm

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