88% LTV Fix and Flip Financing in Seattle16 Residential Rental Property Loans in California
Loan Amount: $228,000
Loan-To-Value: 88% LTV
Situation & Challenge
An experienced real estate investor with approximately ten active projects was making their first purchase in the Seattle market and wanted to get the highest leverage hard money loan possible.
The only challenge was logistics. How was the out of state buyer going to oversee the renovation? Other than that, the buyer had a solid track record and was purchasing the property below AS-IS value.
Solution & Result
First Capital Trust Deeds secured an 88% LTV loan for the purchase of this REO in Seattle. The buyer closed on the property and flew to Seattle to hire carpet and paint contractors to get the house ready to be re-listed on the market within one month.