A hard money ‘Purchase’ loan recently closed on a bank owned REO property in Bakersfield, CA. The loan financed the purchase of an investment property for a real estate investor. The property needs repairs estimated at $20,000 and will be made from borrower funds. Upon renovation, the property will be held as a rental.
Here are the loan details:
- SFR-ATTACHED
- Purchase – Standard
- Purpose – Fix & Hold
- Loan-to-Value: 55% “AS IS” Value
- First Trust Deed
- 60 Month Term
- Principal & Interest Payments
- San Bernardino County, CALIFORNIA
- PRINCIPAL AMOUNT: $72,000.00
For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 or visit our:
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