Address: Sunny Isles Beach, FL 33160
ARV: $835,000 (As-is)
Loan Amount: $200,000.00
Loan Structure: 12 Months
Interest Rate: 12% Interest Only
LTV 24%
Borrower Profile: Experienced Investor
Work Description: Business Purpose
Loan Purpose: Cash Out
March 12. 2024
We recently helped this real estate investor in Sunny Isles Beach, FL, with the cash out needed for an additional project they’re working on. We did a very quick refinance on their free and clear property worth $835,000. We lent them the $200,000 they needed with a $10,000 Holdback and a 3-month Pre-payment penalty. The loan term was for 12 months with an interest rate of 12%—interest Only.
