El Cajon, CA– TaliMar Financial is pleased to announce our most recent funding of a $192,500 Hard Money Fix and Flip Loan Loan Type loan secured on a condominium in El Cajon, CA. Our client will complete a cosmetic update of the property before listing it for sale.
This transaction was an excellent example of our ability to fund a hard money loan on a property type that most hard money lenders would not fund. Many condominiums pose an issue for financing because of the various restrictions on the # of units required to be occupied by homeowners and the financial condition of the homeowners association.
However, TaliMar Financial understands these restrictions and can typically underwrite them. In many cases, these properties are located in markets with significant supply imbalances and therefore buyers do not necessarily require financing that restricts condominiums. Additionally, many of the condominiums can cash flow as rental properties, and therefore a possible exit strategy is to lease the property.
Once the renovations are completed, our client will list the property for sale. As a first-time homebuyer product, we anticipate this property will sell quickly.
About TaliMar Financial
TaliMar Financial is a San Diego hard money lender that specializes in funding residential and commercial Fix and Flip, Construction, and Bridge Loans. As a direct private money lender, we offer aggressive financing options and typically close our transactions in less than 7 business days. We work directly with real estate investors and property owners as well as real estate agents, mortgage brokers, and other real estate professionals.
Contact TaliMar today at (858) 613-0111 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.