San Diego, CA– TaliMar Financial is pleased to announce our most recent funding of a $357,500 1st trust deed secured on a single-family home in San Diego, CA. The loan was written for a 36-month term. The client will hold it as a long-term rental.
The biggest hurdle on this transaction was that the borrower had built two permitted Accessory Dwelling Units (ADU). With a combined income greater than the market rents of a typical single-family home in the surrounding neighborhood, we were required to use both a comparative sales and property income approach to establish the market value of the property.
Accessory dwelling units have created an issue for property owners, appraisers, lenders, and others when attempting to establish a value on a property. Because they are a newer trend, typically there are not enough comparative sales in the market to use a comparative sales approach to value the property.
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.