Featured LoanProbate Sale - Financed by Hard Money Loan
Loan Amount: $420,000
Loan-To-Value: 85% LTV
Situation & Challenge
A California investor acquired a fixer-upper through a probate sale using a 12-month hard money fix and flip loan through First Capital Trust Deeds.
The home had been vacant for two years which led to mold and other water-related issues.
Solution & Result
First Capital Trust Deeds secured an 85% LTV purchase money loan from a private money fund, which allowed the buyer to use their cash to fully renovate the home to resell within a 6-month timeframe.
The investor spent approximately $80,000 renovating the home, which they resold five months later, paying off the hard money 85% LTV fix and flip loan.