A San Bernardino real estate investor used 12-month hard money fix and flip financing from First Capital Trust Deeds to acquire this fixer on quiet Colton cul de sac.
This nice starter home was acquired at 68% Loan-To-Value (LTV) financing. For the buyer/borrower, the loan was only expected to be in force for just a few months since the home didn’t need much renovation work, so the 11.00% rate wasn’t a big deterrent for this project.
The lender, or trust deed investor, had made a few loans to the borrower over the past three years. Each loan had been paid on-time, so the three C’s of obtaining a loan (Credit, Collateral, and Character) were good to go on this loan.
12-Month Hard Money Fix and Flip Financing Terms:
- $110,000 Loan Amount (68% LTV of purchase)
- 12-Month Term
- No Prepayment Penalty