Case StudyFix and Flip Financing in Florida
Loan Amount: $224,000
Loan-To-Value: 88% LTV
Situation & Challenge
An experienced investor and a repeat borrower client making their first acquisition in Florida sourced a property well and wanted to get a high LTV loan to complete their purchase.
First Capital Trust Deeds had to get the lender comfortable with the investor’s plan for going down to Florida to manage the renovation. Fortunately, the lender had made the successful fix and flip loans to the borrower, so the downside exposure was minimal.
Solution & Result
First Capital Trust Deeds provided the investor with an 88% LTV purchase money loan, which closed in less than two weeks.
The investor went down to Florida, worked with a realtor/investor, who FCTD had worked with on transactions for over five years. The home resold within 6 months yielding a significant return on the investment.