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Given the following information, calculate the initial equity investment (i.e., the cash down payment) required to purchase the specific property. Purchase Price: $1,000,000; LTV: 75%;
Given the following information, calculate the initial equity investment (i.e., the cash down payment) required to purchase the specific property. Purchase Price: $1,000,000; LTV: 75%; Up-front financing costs: 3% of loan amount. (Input your answer rounded to the nearest whole dollar and without the $ sign, e.g., 1000)
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