PROPERTY:
Morrison Court, Baltimore, MD 21226
6 properties in 21226
LOAN OVERVIEW:
The borrowers are requesting a hard money loan to acquire several investment properties in Baltimore, MD 21226.  All properties are being purchased under market value from the same owner for $17,000 each. 4 of the properties are rented with tenants paying $625 per month and 2 of the properties are vacant. The Borrowers are putting up about $32K+ of their own cash and have 770 and 730 credit scores and experience managing and flipping properties.
PROPOSED TERMS:
| Loan Type: | Purchase |
| Loan Amount: | $80,000 1st Mortgage |
| Value of Subject Property: | $150,000 (as is) |
| Loan to Value: | 53% |
| Term requested: | 9 Month Balloon |
| Investor return: | 12% |
| Exit Strategy: | Resell property |
| Credit Score | 770 |
HARD MONEY BANKERS COMMENTS:
The pros are:
The lender will have good collateral on an investment property with minimal construction needed. The borrowers have strong credit, good assets and experience. The Borrowers will be contributing about $32K+ into this deal.
The cons are:
The Borrowers exit strategy of selling could take longer than expected in this market.