Los Angeles, CA – TaliMar Financial is pleased to announce our most recent funding of a $616,000 Fix and Flip loan secured on Los Angeles, CA. The Borrower will complete a cosmetic update of the property before listing it for sale.
The biggest hurdle on this transaction was the addition of an Accessory Dwelling Unit (ADU). The addition of an ADU has become a very popular option for real estate investors that are doing fix and flips and fix and holds. An ADU offers future buyers of the property to house extended family or rent for cash flow.
Because ADU’s are relatively new to the market and the lack of home sales that include ADU’s, verifying future value can be difficult. However, we worked with the Borrower and their listing agent to obtain a finished value by using a mix of recent sales and potential rents for the unit.
Our hard money fix and flip loan funded a large portion of the purchase and 100% of the renovation costs. The renovation funds will be disbursed to the borrower over the course of the construction in five predetermined draws based upon progress.
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.