Loan amount
Loan type
As-Is Property Value
47% {LTV}
Property type
Single family home (2)
Borrower Details
Credit score
Deal experience
35 deals
This loan scenario was submitted by a Broker
Property Details
Loan Details
Additional Loan Information
I want to get one loan to fix and flip 2 properties. I own one house outright and have an offer for the second property. Both properties should take about 2 months to complete. I am a GC so I control the process. Both houses should each sell for about $160,000. My only concern is that I have a tax lien from about 10 years ago. This was due to a major theft where I could not pay payroll taxes. The property I already own is currently worth $90K, located in Elkton, MD, not occupied. New property purchase price $40K, located in Wilmington, DE. Not yet in contract but have a verbal agreement. Renovation budget is $35K and $37K.
April 14, 2020 - 8:52am

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