Link Representative For Property
Title
Commercial Real Estate Lending - Rapid Expansion due to Covid, National Net Branches Now Available
Affiliated Company
11 Capital Finance, LLC “11Cap”
Asset Focus
Office
Retail
Industrial
Land
Multifamily
Special Purpose
Mixed Use
Other
Listing Data Provided By
Address
Undisclosed Alvord Texas 76225
Building/Land Information
Property Type
Land
Property Subtype
Residential
Description
Borrower had a straight-forward Cash-out refinance on his BRRRR (Buy, Rehab, Rent, Refinance, Repeat!) Strategy on his single family home in Avlord, TX. The borrower purchased and rehabbed the property and was looking for a 30-yr fixed mortgage, while pulling his cash out to do it all over again. SPECIAL NOTE* Borrower showed 16 mortgage lates within the past 24 months that we were able to get approved with the borrower’s letter of explanation! LTV – 75% Cash Out Loan Amount - $120,000 Term – 30 Yr Fully Fixed (No balloon!) Rate – 5.75% Net Cashflow/NOI - $436.66
Location Description
Alvord is a town in Wise County, Texas, United States. The population was 1,334 at the 2010 census, an increase of 327 residents, or 32 percent growth, over the 2000 population. Originally known as Nina, Alvord adopted its present name in 1882 in honor of the president of the Fort Worth and Denver Railway.
