Hard Money Fix and Flip Loan for SFR in Escondido, California

Funded by TaliMar Financial

$350,000

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

12/03/2020

Property Type
Single Family Residence
Property City

Escondido

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Deal Highlights

Biggest Hurdle: Client was purchasing the property from a real estate investment wholesaler.
We double-funded the purchase, once for the wholesaler & then for our client.

Deal Summary

Escondido, CA– TaliMar Financial is pleased to announce our most recent funding of a $350,000 fix and flip hard money loan secured in 1st lien position on a single-family home in Escondido, CA. The Borrower intends to complete a major renovation before listing the property for sale.

The biggest hurdle in this transaction was that our client was purchasing the property from a real estate investment wholesaler. (Note: A real estate investment wholesaler is an investor that identifies real estate investment opportunities and either sells the purchase contract or purchases the property and immediately sells it to another party. The difficulty in working with a wholesaler is that the buyer typically needs to close quickly and the seller must be notified and approve the transaction). In this case, the seller was not going to approve the transaction, and therefore we double-funded the purchase, once for the wholesaler and then for our client.

Our Fix and Flip Hard Money Loan funded the purchase and renovation costs of the project. Our Client will modify the existing floor plan to allow for living space. The kitchen and bathrooms will be replaced and the exterior will be updated. Once completed, the property will have 4 bedrooms and 2 bathrooms, including a 1 bed and 1 bath accessory dwelling unit. This fix and flip hard money loan was funded in December 2020.

Funded By

TaliMar Financial

California's Trusted Hard Money Lender