Deal Status

Active

Property Address

2528 East Mulford Court, Grand Rapids Michigan 49546

Requested Loan Amount

$160,000

Loan to Value

59%

Loan Term

12 months

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Collateral and Loan Details

Property Type

Duplex

Number of Bedrooms

4

Number of Bathrooms

4

Owner Occupied

No

Loan Type

Purchase

Property Sq. Footage

3,100

Has property been located?

Yes

Preferred Closing Date

06/30/2020

Purchase Price

$160,000

Purchase Contribution

$10,000

Purchase Contribution Source

Own Cash

Loan to Cost

100%

Purchase Plan

Continue Rental (property is tenant-occupied)

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Fair

Comments

I'm looking loan to purchase this property to hold for rent or flip. It is being sold privately (not listed), and the asking price significantly under priced . The Upside is the property has $100k plus equity as is condition. Strategy is to acquire the property , do minor repairs and refinance in 12 months. Credit score at 662 on Experian.

First Name

Dongo

Last Name

Pewee

Phone Number

(616) 325-0895

Role

Borrower

Location

Grand Rapids, Michigan

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