For the buyer, the high-leverage private money loan was beneficial to their strategy of buying cosmetic fixer uppers that needed very little work (carpet and paint) out of a bank REO inventory. This home was purchased about 10% below as-is value, which allowed the private money investment fund from California to go up to 90% of the purchase price.
First Capital Trust Deeds specializes in hard money and private money financing, primarily working with real estate investors like the buyer/borrower of this property outside of Tacoma. FCTD is focused on working with experienced real estate investors, including house flippers, developers, home builders, rental property investors, along with commercial investors.
The company loan portfolio pages include nearly 250 previously funded loans from the past couple of years and gives prospective borrowers and trust deed investors a glimpse into the types of loans FCTD has secured for our private money clients.
Seattle Private Money Fix and Flip Financing Terms:
- $141,000 Loan Amount
- 1-Point Origination + Doc Prep + Appraisal + Processing
- 12-Month Term
- No Prepayment Penalty