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We facilitate rehab
loans in California. We can help get you approved for up to 100% of
the acquisition cost, capping out at 60-65% of the after repair value
for the work to be done. Typically the after repair value is
determined through comps, site visits and/or appraisals.
The
major benefits of our hard money rehab loans include the ease of access
to your fund controlled money and the aggressive nature of our
valuation. In addition, we also have the ability to help secure
equity investors or gap financing for your project, potentially allowing
for financing with little or no cash required by you.
The
draw process we use does not require third party inspections.
Funds can be released in advance, so you will not need to pay upfront or
out of pocket to get the rehab done, and then be reimbursed.
Instead, we can advance the money for work to be done. This saves
time, and saves the amount of cash out of pocket you must use to see a
project through to completion.
Secondly, our valuation process does not rely on third party appraisers.
We value the property using like comps and a site visit. Our
investors are aggressive, and will compare apples to apples. You
will not have a value reduced due to an appraisal using bank owned sale
comps or short sale comps. We give a true after repair value from
which to base a loan on.
Finally, we have built relationships with some equity partners and gap
financers. Depending on your transaction, we may be able to
structure a loan that will require little to no cash out of pocket for
you as the borrower.
This rehab loan program
does not have a minimum credit score required, but major credit issues
will need to be explained (bankruptcies, foreclosures, etc.). For more details on the particulars
regarding this program, along with an example loan, take a look at our
rehab funding page.
Once you are approved,
funding can take place in about 2 weeks. Contact me directly for
more information, or email me the following information and I will be
able to discuss and put together specific options available for your
particular scenario.
Email me the following items:
- Property Address &
Estimated Purchase Price
- Property Specs (Sqft/Bed/Bath
count)
- Rehab Cost Estimate,
Breakdown or Bid
- Pictures of the Subject
Property (3-5 pictures, please keep them small, under 1mb each)
- Link to the Listing if
Available
- Amount of Cash you can
Bring to the Table to Close
Once
you email me these items, I will respond within 24 hours with a loan
breakdown specific to your transaction.
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