Loan amount
$1,920,000
Loan type
Refinance
{Construction}
After Repair Value
$4,500,000
ARV
43%
{ARV}
Property type
Sports Facility
Borrower Details
Credit score
660
Deal experience
1 deal
This loan scenario was submitted by a Broker
Yes
Property Details
City
Sperry
State
Oklahoma
Loan Details
Current mortgage balance
$1,120,000
Cost of improvements
$800,000
Estimated property value after repairs
$4,500,000
Additional Loan Information
Borrower to build small homes (barndominiums) and add RV pads for short and long term visitors and tenants. RV visitors will help to increase cash flows almost immediately. Visitors can lease barndominiums as long as their horses are housed at the facility. A new and improved security system will be added to the property as well.
Status
Closed
Created
October 24, 2024 - 11:19pm
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