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05-21-2016, 01:07 PM #5
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
While we have in house investors that do hard money deals-this property seems as if its already at or near max LTV for hard money.. IF the property appraises at 2.3 (A VERY BIG IF), and it has $1M in equity- that means it has a 1.3 first.. 2.3 x 60% LTV is 1.38M.. Client nets 80k less points.. Doesn't seem to make sense.
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