I would like highly our most recent funding of a $525,000 Hard Money Fix and Flip loan we funded in San Diego.
Our Borrower first approached TaliMar Financial requesting a Proof of Funds letter for the purchase of a single family home in pocket neighborhood of San Diego. He knew the homeowner was looking to sell their house quickly because they were in the process of moving out of state. The house was not in good condition and would require substantial repairs to make it presentable to retail buyers. Instead of spending the money and time to update the property, the homeowner decided it was better to simply "sell as-is."
Our client submitted the offer with our POF letter and was countered with 5-day close and no contingencies. After assuring our client we could close on time, the counter was accepted and we got to work underwritng the transaction. Based upon the after repair market value for the property, we were able to structure a loan that included 80% of the purchase and 100% of the renovation costs.
The transaction was a win-win-win for all parties. The homeowner was able to sell his property quickly and without the headache of repairing it, our client was able to purchase a property at a discount, and we were able to fund another succesful transaction.
In the highly competitive niche of flipping homes, it is important that you can rely on your lender to perform. For over 15 years, TaliMar Financial has been funding hard money loans throughout California.
About TaliMar Financial
TaliMar Financial is a California hard money lender based in San Diego, CA. We specialize in funding residential and commercial private money loans for fix and flips, construction, and bridge loans. Contact us today with your hard money loan request at (858) 613-0111 or visit our website at www.talimarfinancial.com.
