San Diego, CA– TaliMar Financial, a San Diego Hard Money Lender, is pleased to announce our most recent funding of a $1,010,000 Fix and Hold Loan secured on a Single Family Home in San Diego. The borrower intends to complete a cosmetic update of the property and hold it as a long term rental for student housing.
The biggest hurdle on this transaction was that our client needed to close extremely quickly. They had identified the subject property and worked directly with the seller as an “off market” purchase. The seller was looking to liquidate quickly because they were purchasing another property out of state.
Understanding the primary reason why a property owner is looking to sell their property is important. Most real estate investors confuse price as the primary reason for a seller to accept an offer. However, there is most likely an underlying and more pressing reason a property owner is selling their property. In this scenario, the seller was willing to take a slightly lower offer to ensure a quick close.
TaliMar Financial structured the loan as a Fix and Hold which included renovation funds. The renovation funds will be disbursed to the borrower over the course of the renovations. Once the renovations are complete, TaliMar Financial will refinance the hard money bridge with a 30 Year Rental Property Loan.
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.
Up to 80% of Value
Purchase / Refinance
As Low as 3.875%
Interest Payments Available
Cash Out OK
Business Purpose Only
Up to 70% of Completion Value
12 – 24 months
Interest Only Payments
Single Family and Multi-Family
Business Purpose Only
The Preferred Borrower Account Program was designed for the real estate investor. The PBA Program offers real estate investors a secure source of capital for their real estate deals. By getting approved, investors will have access to a TaliMar Financial Letter of Credit, property specific Proof of Funds Letters, 5 Day Expedited closings, and our Wholesale Deal Marketplace.
The process of getting approved is simple. Apply today!