Cash Out Refinance On 5 Acres & 2 Mobile Homes In Ocala, FL
This is a private lending opportunity to fund a cash out refinance on a property that is appraised at $140,000.00, for a 71% LTV cash out refinance loan. The property is on 5 acres in Ocala, FL, and there are two permanent mobile homes that are being rented by one family for $1,250.00 a month. He has owned for fifteen months, with a perfect rent roll, on time every month.
They are looking for a 10%, 5 year balloon loan, 30 year amortization with a 3 year pre-payment penalty. AND a 50/50 split of the profits. A $100,000.00 loan should have payments of $877.00, so the cash flow is $373.00 or $186.50 per month in addition to the 10% annual.
Full Appraisal available upon request. Interested? Please PM me!
Offering