San Bernardino, California Funded Loan
Property Type: Duplex
Lien Position: 1st Trust Deed
Loan Amount: $231,700.00
Appraised Value: $350,000.00
Loan Rate: 10%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: 12 Months Interest Only
San Bernardino, California – Our client, who is purchased the Subject Property with the intention of Fixing & Flipping the Subject Property. The borrower is an active real estate investor in addition to also being a Real Estate Broker. Our company has arranged and funded many loans for the client over the last “6” years.
The borrower buys, Fixes and Flips properties……. but at times retains some of the properties he purchases as rentals. The client is purchasing the Subject Property for $331,000.00. Our borrower is putting in $99,300.00 as a down payment. He will also deposit all additional necessary funds to cover the closing costs. The LVT for the loan is 66% relative to the Subject Property’s Current Appraised Value in San Bernardino, California .
The borrower intends to invest approximately $40,000.00 to $50,000.00 in improvements and upgrades to the Subject Property.
The property improvements and upgrades that our client will be making to the Subject Property will further increase the Subject Property’s value and thus lower the LTV for 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. San Bernardino, California
We believe that the loan for $231,700.00 had many strong points. The LTV for the loan is 66%. The borrower has good credit. The property is located in both a strong rental and sales area. The property will go through upgrades & improvements that will increase its market value. The Trust Deed Investment has a good rate of return with very little risk.
The plan of payback is to sell the Subject Property prior to the maturity of the proposed loan in San Bernardino, California.