Perris, California Our returning Fix and Flip Borrower purchased the Subject Property for CASH in Perris, California. He paid $135,000.00 and contacted our company wishes to pull back funds in order to make additional investment purchases. The estimated Appraised Value of the Subject Property was $165,000.00.
The property improvements and upgrades that our Borrower was intending to make would further increase the Subject Property’s value over $200,000.00 and thus lower the LTV of the proposed loan. Perris, California
Our Borrower intended to invest approximately $20,000.00 in improvements and upgrades and further was further looking to sell the Subject Property for approximately $210,000.00 within a few months.
Since a number of our company’s Investors had funded loans for our Borrower on earlier transactions we were able to line up the funds in less than a week, so our Borrower was able to move forward and close on the property purchase in Perris, California.