Land
Posted 3d agoLand acquisition in Boise
$1,400,000
Location
Boise, ID 83702
Target rate
11.44%
Term
18 mo
Property type
Duplex
Property & underwriting
- Occupancy
- Tenant occupied
- Units
- 8
- Lien position
- Second lien
- As-is value
- $2,454,000
- LTV (as-is)
- 57.0%
- Purchase price
- $2,231,000
- After-repair value
- $3,227,000
- Loan-to-ARV
- 43.4%
- Rehab budget
- $318,000
- Exit strategy
- Sell after renovation
- Borrower experience
- 6-15 deals completed
- Credit score range
- 700-749
- Borrowing entity
- Limited Partnership
- Funding timeline
- 45-60 days
- Additional collateral
- Duplex at Boise, ID
Use of funds
Bridge to permanent financing
Deal summary
Purchase on a duplex in Boise, ID. Borrower is seeking $1,400,000 at up to 11.44% for 18 months. Refinance with bank takeout.