A hard money ‘Fix & Flip’ loan  closed on a SFR in Winchester, CA 92596.

The loan provided Acquisition and Rehab funds to a seasoned house flipper to purchase and renovate a 3-bedroom, 2.5-bath SFR home. Winchester, an unincorporated area and census-designated place in Riverside County, California, USA, is the second oldest community in what is known as the San Jacinto Valley where settlers arrived to what they would call Pleasant Valley in 1879. Founded in 1886, the town was named after the widow of Horace Winchester, Mrs. Amy Winchester. Largely rural for most of its history, and home to agricultural businesses including the Winchester Cheese Company, Winchester experienced rapid growth during the housing construction boom in the early-to-mid 2000s. However, construction and growth slowed when the housing bubble burst in 2007, resulting in a housing market correction. The mid-to-late 2010s saw housing prices in Winchester recover and construction continue with new subdivisions, schools, and parks being built. Source: Wikipedia® & Key To The City

Here are the loan details:

  • SFR – Detached
  • Purchase
  • Purpose – Fix & Flip
  • Loan-to-Value (Subject To) – 56%
  • First Trust Deed
  • 60 Month Term
  • Principal & Interest Payments
  • Riverside County, CALIFORNIA
  • PRINCIPAL AMOUNT: $324,000.00

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