Ground-Up Construction
Posted 1mo agoGround-up construction, Boise
$185,000
Location
Boise, ID 83702
Target rate
10.69%
Term
2 yr
Property type
Duplex
Property & underwriting
- Occupancy
- Tenant occupied
- Units
- 1
- Lien position
- Second lien
- As-is value
- $251,000
- LTV (as-is)
- 73.7%
- Purchase price
- $228,000
- After-repair value
- $334,000
- Loan-to-ARV
- 55.4%
- Rehab budget
- $23,000
- Existing liens
- $55,000
- Exit strategy
- Sell at completion
- Borrower experience
- 15+ deals completed
- Credit score range
- 700-749
- Borrowing entity
- S-Corp
- Funding timeline
- 2-3 weeks
- Additional collateral
- Duplex at Boise, ID
Use of funds
Purchase
Deal summary
Refinance existing hard money on a duplex in Boise, ID. Borrower is seeking $185,000 at up to 10.69% for 24 months. Refinance with bank takeout.