1st Deal on PMC $130k @ 15% for 1st Lien South Buffalo Single with Double Lot
*Update* I am putting in 20k out of pocket, need 110k to close.
1st Deal on PMC offering special of 15% for 1st Lien Position
4 Bed/1 Bath single family home with a double lot, vinyl sided, fenced in yard, with a driveway, garage and storage/"man cave". Property located in South Buffalo neighborhood. Plan is to rent and refinance the property. I own and manage 9 duplexes in the city of Buffalo including 2 within a block from this property.
1st Position Lien
15% Annual Interest Paid Monthly
1 Year (goal of 6 months)
Purchase Price $90,000
Rehab cost (including holding costs) $40,000
Total investment $130,000
Lender's return on investment (110k loan) = $16,500
6 month project = $8250
I am new to PMC, Perfect Loan Proposal is attached. I can send the larger file with tax returns on request.
Total Investment $130,000