Flip In Sugarloaf, California

By G. David Lapin On June 16 2023

This purchase loan provided acquisition and renovation funds for this Fix & Flip project.

Subject is in Sugarloaf, an unincorporated community residential area less than a mile south of Big Bear City and 8 miles from the eastern tip of Big Bear Lake in the San Bernardino Mountains of San Bernardino County, California. The area is primarily residential with a convenience store and a post office located at the center of the community. There is no municipal organization for the area, and all fire, water, and police service are provided by San Bernardino County. The name of the town is taken from the nearby mountain, Sugarloaf. The mountain is so called because it appeared to some to bear a resemblance to a sugarloaf. (In settlement days sugar was sold in pieces of a loaf.) Source: Wikipedia

Here are the loan details:

The property was acquired for $130,000 with an After-Repair-Value of $235,000 and a rehab budget of $30,000.

SFR
Purchase
Purpose – Fix & Flip
Loan-to-Value (ARV) – 60%
First Trust Deed
60 Month Term
Principal and Interest Payments
San Bernardino County, CALIFORNIA
PRINCIPAL AMOUNT: $135,000.00
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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