Deal Details
Private Loan Type
Purchase
Approx. Funding Date
12/03/2024
Property Type
Mixed-Use
Multifamily
Property City
Las Vegas
Property State
NV
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$3,000,000
Loan-to-Purchase Price
50%
Borrower's Contribution to Purchase
50%
Source of Borrower's Contribution
Cash and Cross Collateral
Property Value
$3,000,000
Previous Loan Balance
$500,000
Loan-to-Value
50%
Renovation Budget
$300,000
Renovation Budget Funded
90%
Borrower's Contribution to Budget
10%
After-Repair Value
$4,000,000
Loan-to-After-Repair Value
40%
Renovation Project Scope
Heavy Rehab
Construction Budget
$400,000
Construction Budget Funded
80%
Builder's Contribution to Budget
20%
Completed Value
$4,500,000
Loan-to-Completed Value
35%
Construction Project Scope
Horizontal and Vertical
Term
15 years
Rate Type
Fixed
Debt Service Coverage Ratio
1.35
Property Neighborhood
Summerlin
Location Type
Suburban
Property Condition
Newly Renovated
Occupancy at Closing
Vacant
Number of Units
110
Building Square Footage
25,000
Lot Square Footage
50,000
Lot Acreage
1.55
Borrower's Plan
Rehab and Rent
Exit Strategy
Refinance
Borrower Credit Rating
Excellent
Interest Rate
10.99%
Origination Points
1.75%
Broker Commission
$30,000
Deal Summary
Testing funded deal sync with CRM
Funded By
The Private Lending Company
A Test Company and Profile for Lender Link's Support Team
Dealmakers
Rocky Butani
Founder & CEO
CA DRE Broker Lic. 01893537
Jane Doe
Broker
Amazing experience!