Fully occupied triplex in Harbor Beach with three renovated 2/1 units leased to marine industry professionals.
LOAN AMOUNT
$1,150,000
Investor needed to cash out trapped equity to fund a new commercial land acquisition.
Executed a $1,150,000 cash-out refinance at 75% LTV in 19 days based entirely on the property's $9,600/mo rental roll.
The Outcome
Extracted $410,000 in tax-free capital while securing a 30-year fixed loan structure.
Deal Highlights
LOAN AMOUNT
$1,150,000
PROPERTY VALUE
$1,535,000
MONTHLY RENT
$9,600
DSCR RATIO
1.34
LTV
75%
CLOSING TIME
19 Days
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