Single Family Residence Detached
Deal Summary: The borrower has owned several businesses in the Las Vegas valley, and rehabs investment properties as a side business. He purchased this home in June 2014, has spent $30K in rehab expenses on the home, and currently has the home listed for sale.
Exit Strategy: The home is currently for sale, and the loan will be paid in full when the property is sold.
|Property Type:||Single Family Residence Detached|
|Subject Properties:||Christina Dr, Boulder City, NV 89005|
|House SF.:||+/- 2145 sf|
|Lot Size:||+/- 0.22 acre|
|Loan Amount:||$ 100,000|
|Purchase Price:||$ 212,434 ($ 99.04 per SF) purchased June 2014|
|Appraisal||See comps below.|
|Loan Exposure (PSF):||$ 46.62|
|Interest Rate:||12% interest only|
|Extension Provision:||At lender’s discretion.|
|Collateral:||First Deed of Trust on subject properties.|
|Comps:||1520 Christina Dr, sold on 10/14/14 for $270,000 at $111.02/sf;1527 Sherri Lane, sold on 07/17/14 for $328,000 at $143.73/sf;
1518 Marita Dr, sold on 04/25/14 for $323,000 at $149.33/sf;
1530 Sherri Lane, sold on 04/22/14 for $$335,000 at $146.80/sf
|Closing Costs:||Paid by borrower|
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