Santa Rosa, CA

Information

  • Investment Strategy: Flip
  • Purchase Price: $257,000
  • Remodeling Cost: $45,000
  • BR/BA: 3 Bedrooms // 1 Bathroom
  • Square Footage: 1,076 sqft
  • Lot Size: 5,946 sqft
  • Year Built: 1966

Description

The borrower needed private financing for this purchase because the bank denied their loan application. Although the borrower has strong income and credit; the bank would not allow a purchase of two related parties. This is a simple loan for FJM. We provided acquisition financing after determining the buyer was paying below market value for the home. This property will be held as a rental and the borrower will refinance our loan with institutional financing.