$384,000 Flip Loan in Gilroy, CA
Loan Amount: $384,000
The borrower is an experienced investor who has completed several flips with family. They purchased the 1,160 SF detached condo for $480,000 and plan to complete renovations with an estimated $40,000 remodeling budget. They intend to sell the property for $599,000 to $700,000, based on similar SFR property sales in the area.
A First Bridge Lending originator provided a $384,000 loan at 80% LTPP and 64% ARV.
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Over 2,000 loans totaling more than $1 billion closed since 2012
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