Loans to
Fix and Flip
Location: Oakland, CA
Funded: $720,000
Private Loan Type:Fix and Flip Loan
Deal Highlights:
Our borrower was able to purchase this home well below market
Major renovations for this fix and flip investment property were completed within 4 months
Property was listed for sale, and sold within 30 days over asking price
Deal Summary:
Our borrower found a property well below market, and needed to facilitate the purchase with a 10-day close. We were able to provide the necessary capital to get the deal done with time to spare.
The property underwent a full renovation, was listed for sale within 5 months, and sold over asking price. This was a win/win for our borrower as our fix and flip loans never have repayment penalties, so they were able to repay our loan during the sale transaction.
Deal Details:
Property Type – Single-Family
Lien Position – First Mortgage
Loan-to-Value – 65%
Loan Term – 12 months
