Good day, I am under contract to purchase a single family property in Bensalem, PA. The ARV is $355K. The rehab is $80K and I have that amount secured in second position. I am seeking a $165K private loan to be in first position. The lender's LTV would be about 45%. I am not looking for hard money. If you might be interested, I can give you more details. Please send ma a PM. if you wish to see the kind of work I do, please visit my Youtube Channel : RLSProperties.
@Rick Stein how do you get your 45% LTV? 165/355 is 46% and that's ARV. What's the LTV on the purchase price?
The LTV is figured on the ARV, (Loan To VALUE). The purchase price is $181,500.
Thanks @Rick Stein , LTV is always off current value, not ARV.