Hard Money For A Manufactured Flip In Sonora, CA!

By G. David Lapin On June 30 2023

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

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DISCLAIMER
Hanover Mortgage Company is California licensed only. Real Estate Broker – California Department of Real Estate. Broker License #01410448 │ NMLS I.D. Number: 337458. INTEREST RATES CAN CHANGE WITHOUT NOTICE. ASK US FOR CURRENT RATE INFORMATION. BORROWERS AND PROPERTIES MUST QUALIFY. CONDITIONS AND RESTRICTIONS MAY APPLY. Loan programs, amounts, rates and terms are subject to change without notice. Loan approval is not guaranteed and all loan applications are subject to verification of acceptable credit, income, employment, lien position and value of collateral in the sole discretion of Hanover Mortgage Company. Flood and/or property hazard insurance may be required. Additional fees, conditions, restrictions and limitations may apply. Not all programs are available in all areas. The interest rate for adjustable rate mortgage loans is subject to increase. Please contact Hanover Mortgage Company to determine your eligibility for a specific loan product. Hanover Mortgage Company does not offer financing for those transactions defined as ‘Covered Loans’ or ‘High Cost Loans’ in any state or federal law. Hanover Mortgage Company is a Mortgage Broker. Mortgage Broker fees will apply unless stated otherwise. Disclosure: Money invested through a mortgage broker is not guaranteed to earn any interest or return and is not insured. State law dictates that we acknowledge that interest on trust deeds is not guaranteed. No investment is completely risk free and past performance is not a guarantee of future results. Before investing, investors must be provided applicable disclosure documents. Investment Products: Are Not FDIC Insured • Are Not Bank Guaranteed • May Lose Value • Are Not a Deposit • Are Not Insured by Any Federal Government Agency.

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