Martinez, CA

$286,000

Single Family Residence

Residential Fix and Flip

02/03/2016
Transaction by
Security Financial Services
$236,000 purchase money bridge loan with a $50,000 hold-back for improvement money on a non-owner occupied residential investment property in Martinez, Contra Costa County, CA. The Borrowers put 30% down at close on a $266,000 purchase price, and we agreed to finance up to $50,000 in improvements, or 75% loan-to-cost. Plans include a complete rehab to the existing footprint. The completed value is expected to be north of $425,000, with a turnaround sale in 6-9 months. SFS was able to assist the experienced real estate investors in a 10-day close.