Experienced borrower under contract to acquire the subject property for $145k with intentions of spending $59k on renovations before listing the property for resale. Subject is an SFR located in South Euclid, OH and an ARV of $272K evidences a good ROI for the borrower of over 30.71%. Sponsor on the loan has excellent credit with a mid score of 780, and bank statements reflect sufficient liquidity to close the deal. Initial advance 85.00% LTC & 85.00% LTV. Total loan amount 66.90% of ARV.
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