Deal Status

Active

Property Address

1822 bassett, detriot Michigan 48217

Requested Loan Amount

$70,000

Loan to Value

65%

Loan Term

24 months

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Collateral and Loan Details

Property Type

Single Family Residence

Number of Bedrooms

3

Number of Bathrooms

-1

Owner Occupied

No

Loan Type

Refinance

Property Sq. Footage

888

Current Market Value

$40,000

Equity Cash Out

Yes

Equity Cash Out Purpose

Business Working Capital

Equity Cash Out Details

the borrower will use the funds for working capital. the borrower is seeking a cashout refinance . the three properties are owned free and clear. the borrower is seeking a blanket cashout refinance.

Have Appraisal

Yes

Lot Size

1 acres

Will additional properties be collateralized?

Yes

Additional Properties

Address

3222 liddesdale , detriot, Michigan, 48217

Type

Residential 1-4 Units

Number of Units

1

Photos

photo photo

Address

2943 liddesdale , detriot, Michigan, 48217

Type

Residential 1-4 Units

Borrower Entity

LLC

Borrower Credit Rating

Good

Property Photos

Attachments

Comments

the borrower will use the funds for working capital. the borrower is seeking a cashout refinance . the three properties are owned free and clear. the borrower is seeking a blanket cashout refinance.

the borrower understands that the properties will be refinanced into his LLC. borrower understands that the cashout refinance will be a commercial blanket cashout refinance.

the bpo for the three properties are attached.

First Name

Bernard

Last Name

McGee

Phone Number

(205) 305-4507

Company

Capital Business Partners

Role

Consultant

Location

hoover, Alabama

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