$147,000 Acquisition Loan in Ukiah, CA
Loan Amount: $147,000
Type: Acquisition Loan
Term: 12 months
The borrowers own four rental properties in Ukiah and were looking to add another to their portfolio. With a loan of $147,000 from First Bridge Lending, they purchased a 3-bedroom, 1-bathroom SFR in a typical Ukiah neighborhood for $210,000. They plan to invest $30,000 in remodeling, then lease the property for $1,750 per month.
The loan is 70% LTPP for a term of 12 months. First Bridge Lending Originator Louis Bardis facilitated this deal and helped the client secure funding for their latest rental property.
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Over 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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