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$2,500,000 Private Money Loan for the purchase and rehab of a N/O/O SFR in CA utilizing
This loan was for a repeat client who needed acquisition and rehab funds to flip a non-owner occupied SFR property in the resort city of Indian Wells, CA near Palm Springs. The property is located in what is considered to be one of the United States’ most prestigious and ultra-exclusive private country club communities. The borrower, an experienced fix/flipper in the area, originally approached us with this project last year but being that it was a bank short sale, there was no approval for some time after it went under contract. The bank finally gave approval a few weeks ago with a short COE period and while there were some hiccups with the seller, back paid HOA dues, and unclear title, we were able to get him approved to closing in the allotted time. Our lender funded the project with no money out of pocket from the borrower which increases his payoff when he sells the property.
· 100% LTC Financing! – JV Structure
· Funds included purchase price, rehab, loan costs, and holding costs
· 3% Loan Fees rolled into loan
· After Repair Value conservatively is ~78% LTV (high leverage)
· NO Interest Charged – 50/50 split of profits when property is sold
· Quick closing
This lender is great for anyone with a proven track record of flipping homes and solid financials.
If you would like to see how you can utilize this type of financing, have questions, or a scenario you’d like to discuss please contact me ASAP. Marie J Fleming firstname.lastname@example.org or 916-896-9373
Marie J Fleming -Lender/ Blogger/ Entrepreneur Mailing address: PO Box 241 Roseville, CA. 95661
I am not bound to win, but I am bound to be true. I am not bound to succeed, but I am bound to live by the light that I have. I must stand with anybody that stands right, and stand with him while he is right, and part with him when he goes wrong.
Marie Fleming is an author and enjoys to write on her spare time. At times motivational or articles involving the field of sales or Real Estate.