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Repeat client cashing out a free and clear SFR in Wilkes Barre, PA which was purchased in July 2021 and completed $35k in rehab. Property is appraised for $179K as-is (CDA Confirmed) and is leased in line with the market rent at $1,400/month. Sponsor has good credit and will be using 10% cash out proceeds along with cash to meet the reserve requirements. Loan is structured at 70% LTV presenting 1.32 DSCR.
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