Redlands, California Funded Fix & Flip Loan

Redlands, California

Property Type: Single Family Residence

Lien Position: 1st Trust Deed

Loan Amount: $290,000.00

Appraised Value: $450,000.00

LTV: 64%

Loan Rate: 10%

Loan Type: Fixed Rate – Interest Only

Occupancy: Vacant – Investment Fix & Flip

Term: “12” Months Interest Only

Before

After

Our Borrower purchased the Subject Property in Redlands, California in July of 2015 for $185,000.00.  We arranged a 1st Trust Deed purchase loan for $150,000.00 at 10% interest only with a “12” month term.

At the time our Borrower purchased the Subject Property it was badly fire damaged.  Our Borrower didn’t need to finance the repair work,  so following the closing of the loan our Borrower invested over $50,000.00 of his own funds to make the necessary repairs and improvements to the Subject Property in Redlands, California.

Since our Borrower purchased the Subject Property way under market value and was further able to make the repairs for far less than what a contractor would charge, he was able to make a very substantial profit when he sold the Subject Property in Redlands, California.