Multifamily Bridge
Posted 25d agoMultifamily bridge, Orlando
$1,800,000
Location
Orlando, FL 32801
Target rate
11.03%
Term
9 mo
Property type
Mixed Use
Property & underwriting
- Occupancy
- Non-owner occupied
- Units
- 3
- Lien position
- Second lien
- As-is value
- $3,082,000
- LTV (as-is)
- 58.4%
- Purchase price
- $2,621,000
- After-repair value
- $3,803,000
- Loan-to-ARV
- 47.3%
- Rehab budget
- $306,000
- Exit strategy
- Refinance into 30-yr DSCR
- Borrower experience
- 15+ deals completed
- Credit score range
- 700-749
- Borrowing entity
- S-Corp
- Funding timeline
- 2-3 weeks
- Additional collateral
- Mixed Use at Orlando, FL
Use of funds
Acquisition + rehab
Deal summary
Purchase on a mixed use in Orlando, FL. Borrower is seeking $1,800,000 at up to 11.03% for 9 months. Sell at completion.