Rehab 4 Unit

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Listing Information
Amount: $9,500.00 Status: Loan created
Grade: A DTI: 22%
Lender Rate: 11% Borrower: bsw4saw
Time Left: Finished State: NY
Funded: 100% Group: Vets helping Vets
Loan Information
Loan Status: Current Origination Date: 2007-03-30 EricsCC ROI: 8%
Status History
Mar 29, 2007 Current
We have started to purchase investment properties in inner city Rochester, NY.  We have just completed our first property that is a duplex.  We are eager to begin another project but this one is a little bit bigger.  We currently have the funds to purchase the property, replace the windows and rehab one of the four units.  We are looking for enough funding to complete the second unit and then with two units rented we will be able to continue.  We have 14 years of rental experience in another community in Upstate New York with very good results.  In those 14 years we have had only 7 tenants (this is a duplex).  The most recent property that we completed was inspected last week for our Certificate of Occupancy and passed without any issues on the first attempt.  This other property is also a duplex and the neighborhood has been very supportive of what we are doing.   Both units are rented and rents and security deposits are paid in full.  We feel we are benefiting everyone in the neighborhood, the city and ourselves by being responsible in our mission.  Thank you for your consideration and if you have any questions please feel free to ask.
Borrower's Other Listings
112363 Rehab 4 unit A $9,500 @ 10% Mar 17, 2007 Withdrawn

 

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