PROPERTY:
Heath ST, Capitol Heights MD 20743
Torque St Capitol Heights, MD 20743
B St Se, Washington, DC 20019
Benning Rd, NE, Washington, DC 20002
DESCRIPTION:
The Borrower is requesting a hard money loan to refinance 4 free and clear rental properties. 3 are residential and 1 is commercial (all are occupied).  The combined values are well over $600K. The cash out is going to another business venture that he his heading up. Repayment will be made up selling 2 of the rental properties in the next few months as tenants move out.
PROPOSED TERMS:
| Loan Type: | Purchase |
| Loan Amount: | $225,000 1st Mortgage |
| Value of Subject Property: | $600,000 |
| Loan to Value: | 38% |
| Term requested: | 12 Month Balloon |
| Exit Strategy: | Resell properties |
| Credit Score | 646 |
HARD MONEY BANKERS COMMENTS:
The pros are:
The lender will have good collateral on several investment properties.
The cons are:
The Borrowers exit strategy of selling could take longer than expected in this market.