Multifamily bridge, Boise

Property & underwriting

Occupancy

Tenant occupied

Units

1

Lien position

Second lien

As-is value

$590,000

LTV (as-is)

71.2%

Purchase price

$573,000

After-repair value

$809,000

Loan-to-ARV

51.9%

Rehab budget

$61,000

Existing liens

$126,000

Exit strategy

Sell at completion

Borrower experience

First-time investor

Credit score range

700-749

Borrowing entity

LLC

Funding timeline

2-3 weeks

Additional collateral

Fourplex at Boise, ID

Use of funds

Refinance existing hard money

Deal summary

Purchase on a fourplex in Boise, ID. Borrower is seeking $420,000 at up to 10.1% for 6 months. Refinance with bank takeout.