An experienced borrower was looking to utilize the 30 Year Long-Term Rental (LTR) program to refinance a ranch style Single-Family Residential (SFR) project in Clarksville, Tennessee. The borrower initially purchased the project for $30k in December 2019. This property has been appraised for $150k As-Is. As a result, RCN Capital was able to provide the $56k in renovations that this borrower needed. In the end, the property is currently leased above the market rent for $1,300/month.
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