Cash-Out Refinance
Posted 13d agoCash-out refi on duplex, Las Vegas
$185,000
Location
Las Vegas, NV 89101
Target rate
9.63%
Term
2 yr
Property type
Duplex
Property & underwriting
- Occupancy
- Tenant occupied
- Units
- 8
- Lien position
- First lien
- As-is value
- $273,000
- LTV (as-is)
- 67.8%
- Purchase price
- $246,000
- After-repair value
- $385,000
- Loan-to-ARV
- 48.1%
- Rehab budget
- $39,000
- Exit strategy
- Sell at completion
- Borrower experience
- First-time investor
- Credit score range
- 700-749
- Borrowing entity
- Individual
- Funding timeline
- 45-60 days
- Additional collateral
- Duplex at Las Vegas, NV
Use of funds
Cash-out for next acquisition
Deal summary
Cash-out for next acquisition on a duplex in Las Vegas, NV. Borrower is seeking $185,000 at up to 9.63% for 24 months. Sell at completion.