$322,000 Flip Loan in San Leandro, CA
Loan Amount: $322,000
Term: 6 months
The borrower is an experienced home flipper who has flipped 3 properties in the last 4 years. They came to First Bridge Lending for financing on their new flip property purchase, a single-level residential SFR in San Leandro, purchased at $450,000. The property was dated but in good condition; renovations were expected to cost $100,000 and the borrower expects to sell the finished property for $700,000.
The loan amount totaled $322,000 at 70% LTPP for a 6-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding for their latest flip property purchase.
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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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