First Capital Trust Deeds secured a first time house flipper a hard money loan in Orange County for a well capitalized investor trying out the business.
The buyer worked with a very experienced realtor that specialized in investment properties. FCTD and the realtor had worked together on several transactions over the years, so we knew that even though the borrower was flipping a house for the first time, their agent would oversee the project from start to finish.
Within 75 days, this once outdated South Orange County home was completely renovated and placed back on the market, reselling in just under 40 days for a significant profit.
First Time House Flipper Hard Money Loan:
- $300,000 Loan Amount (55% LTV)
- 10.00% Interest-Only
- 12-Month Term
- No Prepayment Penalty