Yucaipa, California Our Borrower was purchasing the Subject Property for $115,000.00 in Yucaipa, California, intending to invest $34,000.00 as a down payment. He also planned to deposit additional necessary funds to cover all closing costs. He already had all the necessary repair and improvements funds.
The LTV for the loan was 70% relative to the purchase price, but only 60% relative to the Subject Property’s Appraised Value at the time of purchase.
Our Borrower intended to invest approximately $25,000.00 to make all necessary repairs and improvements, and further was looking to sell the Subject Property for approximately $215,000.00 within a few months.
Due to our Borrower locating such a great Fix & Flip investment opportunity in Yucaipa, California, we were able to quickly fund the $81,000.00 1st Trust Deed Fix & Flip Loan at 10.99 with a “12” month term for our Borrower. Yucaipa, California