Colton, California Funded Fix & Flip Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $88,760.00
Appraised Value: $140,000.00
Loan Rate: 10.99%
Loan Type: Fixed Rate – Interest Only
Term: “12” Months Interest Only
Colton, California – The Subject Property was purchased in Colton, California by our Borrower for $126,800.00. The appraised value of the property was $140,000.00 at the time of purchase, so our Borrower was purchasing the property under the current market value. Our Borrower was intending to put down $38,040.00 as a down payment, and further deposit additional funds at Escrow to cover all closing costs.
The property improvements and upgrades that the client will be making to the property will further increase the Subject Property’s value and thus lower the LTV for the loan in Colton, California.
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. Colton, California
Our Borrower had the necessary funds to make all the required repairs and improvements to the Subject Property. The property improvements and upgrades that our Borrower was planning to make to the Subject Property would further increase its value, and thus lower the LTV of the proposed loan for the Investor. Colton, California
Since everything checked out with the proposed loan, we were able to arrange and fund a $88,760.00 1st Trust Deed Loan for our Borrower at 10.99 with a “12” month term. He made a very good profit when he later sold the property in Colton, California.
We funded a $88,760.00 1st Fix & Flip Loan at 10.99% in Colton, California, where our Borrower made a great profit when he sold the property.