Investment SFR Purchase – $1,400,000 Alamo CA
We had already successfully completed 12 loans for this borrower over a period of about 18 months. They came back to us seeking $1,400,000 on a property they recently purchased for $2,000,000. They had a strong track records of on time payments on all their other loans.
In addition, they had a long history of buying, doing major renovations on high end properties and flipping them for substantial profits. As such, it was easy for us to quickly get a financial commitment from one of our investors. We funded this deal in under a week. Our hard money lender rates was the most competitive and he really liked how quickly we responded to all his questions both via phone and email.We closed the loan on time allowing him to take advantage of the purchase he had in Escrow.