A Funded Flip in Sugarloaf, CA!
This purchase loan provided acquisition and renovation funds for this Fix & Flip project. The property was acquired for $130,000 with an After-Repair-Value of $235,000 and a rehab budget of $30,000.
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:
- Purpose – Fix & Flip
- Loan-to-Value (ARV) – 60%
- First Trust Deed
- 60 Month Term
- Principal & Interest Payments
- San Bernardino County, CALIFORNIA
- PRINCIPAL AMOUNT: $135,000.00
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