Loan amount
$100,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$300,000
{PP:$90,000}
ARV
33%
{ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
500
Deal experience
20 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Detroit
State
Michigan
Loan Details
Purchase price
$90,000
Down payment
$20,000
Cost of improvements
$30,000
Estimated property value after repairs
$300,000
Additional Loan Information
I am a real estate investor with 20 years of investing experience. I have purchased renovated leased or sold over 1000 properties during my career. I am looking to purchase properties in Detroit and hope to work with a lender. This 4-family property is 3500 square feet and is in a revitalized community. Renovated Properties of this size in the 48206 zipcode are currently being sold for $300,000 - $500,000. I want to convert this property into an SFR
Status
Open
Created
June 24, 2024 - 1:22pm
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