PROPERTY:

Birch Ave, Glen Burnie, MD 21061

DESCRIPTION:

  • Purchase price is $115,000 and construction costs are $65,000.
  • Cash to close is $3,700
  • Holding $65,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase construction-JV
Loan Amount: $190,000 1st Mortgage
Value of Subject Property: $255,000
Loan to Value: 74%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 775