Coachella, California Funded Fix & Flip Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $65,940.00
Appraised Value: $115,000.00
Loan Rate: 10.99%
Loan Type: Fixed Rate – Interest Only
Term: “12” Months Interest Only
Coachella, California – Our client just purchased the Subject Property for CASH, is an active real estate investor in addition to also being a real estate agent. Our company has arranged and funded many loans for our client for over the last “5” years.
The borrower buys, Fixes and Flips properties……. but at times retains some of the properties he purchases as rentals. The Borrower just paid $109,900.00 CASH for the Subject Property. Our client was looking to obtain a loan for $65,940.00 that will provide him more than enough cash to completely renovate and upgrade the Subject Property in Coachella, California.
The LVT for the loan is 57% relative to the Subject Property’s Purchase Price.
Our client intends to invest approximately $30,000.00 in improvements and upgrades and further is looking to sell the Subject Property prior to the maturity date of the proposed loan.
The Subject Property has been appraised for: $115,000.00 – Coachella, California
The property improvements and upgrades that the borrower will be making to the property will further increase the Subject Property’s value and thus lower the LTV of the proposed loan.
While many Fix & Flip investors operate on a shoestring, Our client is well capitalized and is very conservative and has a very focused business plan. He consistently makes a very good profit on every transaction he has been involved with over the last “6” years.
We believe that the loan for $65,940.00 has many strong points in Coachella, California. The plan of payback is to sell the property, which will take place prior to the maturity of the loan. $65,940.00 1st Trust Deed Fix & Flip Loan at 10.99% in Coachella, California. Our Borrower made extensive repairs and sold for a great profit.