Fake equity
I get a lot of deals sent to me where they present equity cushion based on ARV. Unfortunately, I can't calculate equity off anything other than today's value. If the house is worth 200K today, reno costs 50K, ARV is 300K and the loan request is 225K. We're not at 75% LTV. We're at 112.5% LTV.
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Fake equity
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