PROPERTY:
Kahn Dr, Pikesville, MD 21208
DESCRIPTION:
- Purchase price is $88,000 and construction costs are $30,000.
- Cash to close is ~$22,000
- Holding $30,000 of the funds which will be reimbursed upon completion of project
- Experience in rehabbing and owns so free and clear properties
PROPOSED TERMS:
| Loan Type: | Purchase |
| Loan Amount: | $110,000 1st Mortgage |
| Value of Subject Property: | $180,000 |
| Loan to Value: | 61% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 642 |