
A success story on a flip of a manufactured dwelling (SFR) funded in Sonora, CA 95370.
The subject was acquired as REO for $109,500 by seasoned real estate flippers. We arranged a $117,000 rehab loan. Approximately $26,000 in repairs and cosmetic upgrades were made. Although the subject was not in a very heavily populated area, it was listed at a reasonable price point for its size. The real estate investors were able to complete the project and resale the property (during COVID-19) to the end buyers - who purchased all cash. In our opinion this just illustrates the underlying demand for affordable housing. In six months (COE 04-24-2020) this property was successfully flipped, and the investors realized net proceeds on sale of $46,000.
Residential Manufactured SFR
Purchase
Purpose – Fix & Flip
Loan-to-Value (ARV): 53%
First Trust Deed
60 Month Term
Principle and Interest Payments
Tuolumne County, CALIFORNIA
PRINCIPAL AMOUNT: $117,000
For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 ext. 102 or visit our:www.hanovermc.com