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  • Writer's pictureStephen Sinko

We love Section 10

Property Address: Las Vegas, NV 89117

Description: County Records show this to be 3,458 sq foot 3-bedroom 2.5 bath two story home located just north of section 10. This home has a 2-car garage, large backyard with BBQ & deep swimming pool and built on .48 acres

Loan Amount: $560,000.00

Borrowers Estimated Value: $1,200,000.00

Purchase Price: $655,000.00 – CASH

Loan to Value: 85% of Purchase Price

Note Rate: 12.75%

Loan Term: 12 months – 3 months guaranteed

Payments: Interest Only

Use of Funds: Refi – Replenish reserves during Rehab.

Exit Strategy: Considering short term rental. Refinance or Sale

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