San Diego, CA
Single Family Residence
Residential Fix and Flip07/11/2020
In July 2020, TaliMar Financial funded a $932,000 loan for a fix & flip project in the University City neighborhood of San Diego, CA. We worked closely with the borrower to issue a Proof of Funds letter for their offer, and once it was excepted, we expedited the closing in less than 5 business days. The transaction was so smooth, the listing agent contacted us after the close and thanked us for moving so quickly. The loan funded 80% of the purchase and 100% of the renovation costs which was 70% of the completion value. The renovation funds will be disbursed to the Borrower over the course of the renovations. Once the renovation are complete, the Borrower will list the property with an anticipated sale price of $1,330,000. We are excited to be involved in this house flip transaction and look forward to seeing the finished home.