An experienced house flipper acquired a fixer upper in Pomona using fix and flip financing from First Capital Trust Deeds.
This nice little home in Pomona, acquired with hard money fix and flip financing, needed some work after several years of deferred maintenance leading up to the foreclosure left it in a state of disrepair. However, it had “good bones” as all the mechanical aspects were still working and it was located in a desirable area for first-time homebuyers using FHA financing.
Our experienced house flipper client used 75% LTV purchase money financing and closed on the REO quickly. This was a nice loan for the rehabber who doesn’t like to take on too much leverage on their projects. The 75% LTV works well for this project, which they expect to be in and out of within 90-120 days.
Fix and Flip Financing Terms:
- $225,000 Loan Amount (75% LTV)
- 12.000% Interest-Only
- $2,250/Month Payment
- 12-Month Term
- No Prepayment Penalty