PROPERTY: 

Strathmore Ave,  Baltimore MD  21214

 

DESCRIPTION:

  • Purchase price is $82,000 and construction costs are $65,000.
  • Cash to close is $2,000
  • Holding $65,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; Chris and Jason are guarantors

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $1600,000 1st Mortgage
Value of Subject Property: 2100,000
Loan to Value: 77%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720