Whitewater, California Funded Fix & Flip Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $84,000.00
Appraised Value: $145,000.00
Loan Rate: 10.99%
Loan Type: Fixed Rate – Fix & Flip
Term: “12” Months Interest Only
Whitewater, California – Our Borrower was purchasing the Subject Property for $115,000.00, where he intended to invest $31,000.00 as a down payment in additional to funds to cover all closing costs.
Our borrower buys, Fixes and Flips properties……. but at times retains some of the properties he purchases as rentals. Our client was looking to obtain a loan that will provide him more than enough cash to completely renovate and upgrade the Subject Property. Whitewater, California
The LTV for the loan was 73% relative to the Subject Property’s Appraised Value, but only 58% LTV relative to the Subject Property’s market value at the time of purchase. Our Borrower planned to invest an additional $25,000.00 to repair and improve the Subject Property.
The LTV for the loan is 40%………based on the current Market Value. The Borrower has a FICO score of 702. 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. Whitewater, California
Our Borrower in the end spent approximately $30,000.00 to fully repair and improve the Subject Property, which increased it market value to $260,000.00. Whitewater, California
Based on our Borrower’s extensive rehab experience and his solid track record with our company and our Investors, we were able to arrange the $84,000.00 1st Trust Deed Fix & Flip Loan at 10.99 with a “12” month term for our Borrower.
Our Borrower made over a $100,000.00 profit in Whitewater, California from purchasing and repairing a badly damaged house he got for only $115,000.00. Whitewater, California.
$84,000.00 1st Trust Deed Fix & Flip Loan at 10.99%, where our Borrower made over a $100,000.00, later sold.