Private Money Loan for Sunset District Home Purchase & Rehab

$812K Purchase money loan with $400K in improvement money on a non-owner occupied residential investment property in San Francisco’s Inner Sunset neighborhood. The Borrowers put 35% down at close on a $1,250,000 purchase price, and we agreed to finance up to $400,000 in improvements, or 73.5% loan-to-cost. Plans include a complete rehab to the existing footprint. The completed value is expected to be $2.4MM, with a turnaround sale in 6-9 months. We were able to assist the experienced real estate investors in a 7-day close due the ultra-competitive nature of the San Francisco real estate market, in August 2015.