El Cajon, CA

$454,000

Single Family Residence

Residential Rehab

10/22/2020
Transaction by
TaliMar Financial
In October 2020, TaliMar Financial funded a $424,000 Hard Money Fix and Flip loan secured on a single-family home in El Cajon, CA. The Borrower will complete a full interior and exterior renovation of the property before listing it for sale. The Borrower first approached TaliMar Financial seeking information on our Hard Money Fix and Flip Loans. They had never completed a residential fix and flip project but we qualified them for our Preferred Borrower Loan Program as a first-time investor. This gave them access to a Letter of Credit, property-specific Proof of Funds letters, and our expedited 3 to 5-day closings. Soon after qualifying them for our Preferred Borrower Loan Program and opening them a TaliMar Borrower Account, our Borrower notified us that they identified a Fix and Flip investment opportunity and would need to close quickly. We approved them for a 70% completion value Fix and Flip Hard Money Loan that funded 80% of the purchase price and 100% of the renovation costs.