A Southern California real estate investor worked with First Capital Trust Deeds to buy cash offers only listings with hard money financing on a major fixer upper in Long Beach.
The experienced real estate investor acquired this major fixer upper using 75% loan-to-value (LTV) hard money fix and flip financing to close in just three days.
What made this transaction unique was the listing stated, “Cash Offers Only.” In real estate, this means either “all-cash offers” or “hard money loan offers” will be accepted.
For many listing agents, hard money loans are nearly the same as cash, especially when an established trust deed investor is making the loan, like we had in this case.
For seasoned house flippers, they know that they can buy “Cash Offers Only” listings with hard money financing quickly and that sellers and their realtors will accept the financed offer, especially if it can close within three days, like we were able to perform for our borrower.
Fix and Flip Hard Money Loan Terms:
- $228,000 Loan Amount (75% LTV)
- 12-Month Term
- No Prepayment Penalty