San Diego, CA– TaliMar Financial, a La Mesa Hard Money Lender, is pleased to announce our most recent funding of a $608,000 Fix and Flip loan secured on a Single Family Home in La Mesa, CA. The Borrower will complete a cosmetic update of the property before relisting it for sale.
The biggest hurdle on this transaction was identifying comparable sales in the market. The property had some unique qualities such as a pool and a view corridor of San Diego. Additionally, all the similar properties sold in the market were not updated. By working with the Borrower to understand their scope of work and project budget, we were able to confirm the Borrower’s estimated value and move forward with the transaction.
One of the biggest difficulties in funding residential or commercial fix and flip and fix and hold hard money loans is coming to an agreement on completion value. In many cases, there are few comparable sales to use to estimate the final value of an existing property and not enough time to order a third-party appraisal. By understanding specific submarkets in California, TaliMar Financial can usually evaluate the scope of work/project budget and apply a finished value.
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) 242-4900 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.