$1,162,000 Flip Loan in Redwood City, CA
Loan Amount: $1,162,000
Type: Flip Loan
Term: 6 months
The borrower is an experienced full-time developer and flipper who own 2 commercial properties and has flipped 4 homes in the last 24 months. First Bridge Lending provided financing for the borrower to purchase the 3-bedroom and 1.5-bathroom SFR located in Redwood City, CA. The repeat borrower purchased the property for $1,660,000 and is investing $300,000 in remodeling costs to resell for $2,300,000.
The loan amount totaled $1,162,000 at 70% LTPP for a 6-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding for their latest flip 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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