PROPERTY:

Barge Rd #F, Ocean City, MD 21842

DESCRIPTION:

  • Purchase price is $182,000 and construction costs are $20,000.
  • Cash to close is $67,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 50%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 547/734