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Purchase Loan in Alabama

  • Posted on April 9, 2018
  • Status: Inactive ?

Loan & Collateral

Loan TypePurchase
Security1st Mortgage
Loan Amount$135,000
Collateral Value$310,000
Available Downpayment$10,000
Calculated LTV44% ?
CityCreola
StateAlabama
Property TypeMultifamily

Exit Strategy

The property is currently cash flowing and we will be able to cover the cost of payments with the cash flow received from rents. We also intend to either sell or refinance once all units have been rehabbed and rented.

Loan Proceeds

The $95K purchase price and $50k for rehab. rehab moneys will be used to install/verify functionality of utility meters on remaining spaces, verify functionality of septic tanks, make necessary drywall repairs to units

Borrower

ApplicantElliot Ratajack
Agency?Borrower
OrganizationThe Ratajczak investment group
Credit Grade Inactive ?
Phone Number Inactive ?

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Private Money in Alabama

The MoolahList hard money directory lists 86 lenders in Alabama

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