Rental Purchase - Carlsbad, NM

Location: Carlsbad, NM
Borrower Profile: New Client.
Work Description: Rental property purchase.
Purchase Price: $120,000.00
Loan Amount: $75,000.
Loan Structure: 6 Months. Interest Only Payments.
Situation: This deal was brought to us by a broker that we do business with. The borrower wants to build his real estate portfolio, but needed assistance on the purchase before he can refinance into a DSCR loan.