The borrower is a full-time investor who purchased this property in 2014 for $520,000. They recently evicted the tenants and will be completing a remodel of all 4 units before re-leasing for an estimated gross rent of $8,000/month. They came to First Bridge Lending for a line of credit loan with initial funding of $67,000 and additional draws in $25,000 increments.

The loan amount totaled $300,000 at 57% LTPP for a 12-month term. First Bridge Lending agent Louis Bardis facilitated this deal and helped the client secure funding for their remodel and re-lease all 4 units.

Why FBL
Private lender
Direct lender
Quick process puts you in touch with decision makers
Loans funded in 3 business days
In-house underwriting, no appraisal required

FBL Track Record
Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS