Glendale, CA

$825,000

Single Family Residence

Residential Fix and Flip

01/29/2020
Transaction by
Alta Capital Group
In January 2020, Alta Capital Group provided financing for the purchase of this fix and flip project in Glendale, California. The borrower reached out to Alta just 2 days prior to their deposit going non-refundable and we were able to move quickly to underwrite the investment and give the borrower confidence they could trust Alta to perform when it mattered most. Alta was also able to help the borrower secure a 2nd trust deed of $85,000 to raise the initial CLTV to 90% and allow the borrower to keep more of their working capital in the bank. help with the down payment help the investor feel comfortable that we would be able to provide financing. Alta financed this deal through it's unique Rehab Loan Program at a rate of 8.99% on a 12 month first trust deed at 80% of the purchase price. As part of that program, Alta also provided the borrower with 100% of their $150,000 rehab budget.