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TITLE:
FIRST NOTE ON MURPHYSBORO IL MHP
TYPE:
To be created
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CONTROL:
Owner
PRICE:
$235,000
FACE VALUE:
$235,000
BALANCE OWING:
$235,000
MONTHLY PAYMENT:
$1,567
ANNUAL PAYMENT:
$18,804
INTEREST RATE:
8.00%
ORIGINATION DATE OF NOTE:
Oct 16, 2023
MATURITY DATE OF NOTE:
Oct 15, 2028
HAVE:
First Note secured by Mobile Home Park in Southern Illinois. $290,000 purchase price.
CAN ADD:
5 houses in Southern Illinois, value $400k. Leasehold on 56,000 sq ft mixed use, WETV.
REMARKS:
We would like to sell our park and we have a Buyer, but we have $195k debt that must be paid off. Looking for crankable income property to place the debt, or enough cash in the deal to pay off most of the debt.
NOTE COLLATERAL INFORMATION
TYPE OF COLLATERAL:
Land
LOCATION:
Murphysboro, Illinois
RECORDED LIEN POSITION:
1st
INSTRUMENT OF SECURITY:
Mortgage
PERSONAL GUARANTEE?
Yes
COLLATERAL VALUE:
$290,000
COLLATERAL ANNUAL EXPENSES:
$10,000
COLLATERAL NOI:
$35,000
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs,
Colorado,
80829
