Some real estate investors and house flippers are able to get in and out of a project in under three months. That was the case of this 85% LTV fix and flip financing loan in San Jose for an experienced house flipper who acquired this distressed property.
The San Jose market has been hot for several years now and it’s pretty common to see properties acquired by house flippers in the $600’s selling 2-4 months later in the mid-$800’s. We’ve seen some resell to cash buyer end users, closing in less than two weeks. San Jose, with its tech money, is a funny market compared to the loans we do in San Francisco and the East Bay where renovations often take 6-12 months and time on market can be 2-3 months.
Fix and Flip Financing Terms:
- $560,000 Loan Amount (85% LTV)
- 12-Month Term
- No Prepayment Period