Whitewater, California Our Borrower was purchasing the Subject Property for $115,000.00 in Whitewater, California, where he intended to invest $31,000.00 as a down payment in additional to funds to cover all closing costs.
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.
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