New Construction Investment Tourist Area Upstate PA
Completed Value of Modular Home $350,000
Cost for Home and Improvements $212,000 or less
Cost for Land $60,000 (6 Lots) (Expected Appraised Value $120,000)
$222,000 is 63% (Loan to Value)
Potential Equity on Each Home is $128,000 if no realtor is needed or it goes down to $107,000
There is a contract in place for the land purchase. Also with the modular home provider/builder.