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Borrower is a highly experienced repeat investor under contract to acquire the subject property located in Magnolia, TX for $340K with intentions of spending $243,517 on renovations before listing the property to hold/refinance. Subject is an SFR and appraised for $479K As-Is and ARV of $723K evidences a ROI for borrower of 21.78%. Sponsor with mid score of 693 and bank statements reflect sufficient assets. Initial advance 66.60% LTC & 47.30% LTV. Total loan amount 65.00% of ARV.
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