San Diego, CA– TaliMar Financial is pleased to announce our most recent funding of a $740,000 Hard Money Fix and Hold loan secured on a single-family home in San Diego, CA.
The Borrower will complete a cosmetic update of the property and convert the existing detached garage into a separate accessory dwelling unit. Once the renovations are complete, the Borrower will lease the property and refinance the loan with conventional bank financing.
The biggest hurdle in this transaction was the timing of the close. Our client approached the listing agent directly to purchase the property. The seller agreed to the terms as long as our Borrower would close in less than 5 business days.
Our hard money fix and hold loan was structured to include purchase funds and renovation funds. The renovation funds will be disbursed to the Borrower over the course of five pre-determined draws based upon the progress.
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.