Perris, California Funded Fix & Flip Loan

Property Type: Single Family Residence

Lien Position: 1st Trust Deed

Loan Amount: $80,000.00

Appraised Value: $165,000.00

LTV: 49%

Loan Rate: 10.99%

Loan Type: Fixed Rate – Interest Only

Occupancy: Investment Fix & Flip

Term: “12” Months Interest Only

Before

Single Story pale Green House Before Photo located in Perris, California where our company funded a 1st Trust Deed for $80,000.00

After

Single Story pale Green House located in Perris, California where our company funded a 1st Trust Deed for $80,000.00

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.