Purchase an Investment Property in Eden Prarie, Minnesota
Shareable Link: https://diversifycap.com/loan/351/
Purchase an Investment Property in Eden Prarie, Minnesota
- What's your First Name? Nge
- What's your Last Name? Farrow
- What's your Company Name? AJ Consolidates Property Management & Maintenance
- What's your email address [email protected]
- What's your phone number? 7639130217
- What is your primary role in this loan request? Borrower
- How much would you like to borrow? 205000
- What is the property's current market value as-is? 225000
- City Eden Prarie
- State Minnesota
- How would you describe the location? Suburban
- How would you describe the current condition of the property? Excellent
- Which asset class is the subject property? Residential Property
- What type of residential property? Single Family Residence
- How many bedrooms? 3
- How many bathrooms? 1.5
- What is the purpose of the loan? Purchase an Investment Property
- You're seeking a 1st mortgage, right? Yes
- Has a subject property been located? Yes
- What is the purchase price? 212500
- What percentage of the purchase price can you contribute? 10%
- What is the source of your contribution to the purchase price? My partner’s cash, Equity in another investment property
- What is the current market value of the property that has equity? 184300
- What is the balance of all mortgages on that property? 126487
- What is the current occupancy status? Tenant-occupied
- When do you need to close the transaction? Within 45 days
- What is the plan immediately after the purchase? Rent the property
- What is the projected monthly rental income? 2,200.00
- Will the property be used by a cannabis business? Select ...
- How long of a loan term are you seeking? 12 months, 18 months
- Can you provide the property address? Yes
- What is the subject property’s address? 6316 St. john's Drive Eden Prarie , MN. 55
- What is the size of the lot(acres)? .04
- What is the square footage of the building(s)? 1742
- How would you rate your credit? Fair
- What is your average credit score? 600
- Are you a U.S. Military veteran? Yes
- Are you a citizen of the United States? Yes
- Please provide more details on the use of the cash-out funds. We are looking seeking to utilize our buying power and my Rehab experience to transform the clustered home into the spacious Town home living in the Suburbs. This property will be used as a Rental Property for a family or Qualified family within the scope of 3 positive applicants now waiting. We are turning the partial finished basement to a bedroom & the rough-in bath in the basement to a 4 Bedroom 2.5 Bathroom Town home.
Contact
Deal Overview
Loan Info
Final Details
The Story & Summary
Contact
Deal Overview
Loan Info
Final Details
The Story & Summary