An Orange County real estate investor used California hard money fix and flip financing loan through First Capital Trust Deeds to close on this loan in Westminster.
For the past 7-8 years, house flippers in California, Oregon, and Washington, have been successfully using hard money loans to quickly acquire discounted properties in order to fully renovate from top to bottom and resell for big profits. The fix and flip business has been going on for many decades but has really taken off since California’s housing market bottomed out in the Spring of 2009.
In Orange County, real estate investors are buying homes and selling them within 6-8 months for big profits. As was the case with this property in Westminster, that was acquired using hard money financing through First Capital Trust Deeds and re-sold eight months later for a sizable six figure gain.
California Hard Money Fix and Flip Financing Terms:
- $466,000 Loan Amount (77% LTV)
- 10.50% Interest-Only
- 12-Month Term
- No Prepayment Penalty