Ground-Up Construction
Posted 16d agoGround-up construction, Boise
$220,000
Location
Boise, ID 83702
Target rate
12.97%
Term
18 mo
Property type
Multifamily 5+
Property & underwriting
- Occupancy
- Tenant occupied
- Units
- 1
- Lien position
- Second lien
- As-is value
- $298,000
- LTV (as-is)
- 73.8%
- Purchase price
- $254,000
- After-repair value
- $383,000
- Loan-to-ARV
- 57.4%
- Rehab budget
- $58,000
- Existing liens
- $66,000
- Exit strategy
- Refinance into 30-yr DSCR
- Borrower experience
- 6-15 deals completed
- Credit score range
- 800+
- Borrowing entity
- S-Corp
- Funding timeline
- ASAP (7-10 days)
- Additional collateral
- Multifamily 5+ at Boise, ID
Use of funds
Refinance existing hard money
Deal summary
Refinance existing hard money on a multifamily 5+ in Boise, ID. Borrower is seeking $220,000 at up to 12.97% for 18 months. Sell after renovation.