Fix and Flip Loan for SFR in University City, San Diego

Funded by TaliMar Financial

$932,000

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

07/11/2020

Property Type
Single Family Residence
Property City

San Diego

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

80%

Borrower's Contribution to Purchase

20%

Loan-to-After-Repair Value

70%

Property Neighborhood

University City

Exit Strategy

Sale

Deal Highlights

Once Proof of Funds letter was accepted, we expedited the closing in less than 5 business days.
Our loan funded 80% of the purchase and 100% of the renovation.

Deal Summary

TaliMar Financial, a hard money lender, funded a $932,000 1st lien position 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 accepted, 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 is 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. This SFR fix and flip loan was funded in July 2020.

Funded By

TaliMar Financial

California's Trusted Hard Money Lender