$672,000 Flip Loan in Morgan Hill, CA

Loan Amount: $672,000

LTPP: 80%

Type: Flip

The borrower is an experienced investor who has completed 18 flips in the last 6 years. They purchased the 2,517 SF 4 Bed/3 Bath SFR for $840,000 and plan to complete cosmetic renovations with an estimated $60,000 budget. The borrower intends to re-sell the property for $1,100,000.

First Bridge Lending originator Louis Bardis provided a $672,000 loan at 80% LTPP and 62% ARV.

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In-house underwriting

FBL Track Record
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
CA Licensed: CFL, DRE, NMLS

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The borrower partnered with their father, who has flipped 4 homes in the last 6 years, to purchase this SFR for their first joint flip. The property is in a good location, though dated finishings and repairs will require $60,500 in improvement costs.

80% LTPP – Higher LTV Investor Flip

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.

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