The borrower requested a $1.4 million hard money loan to purchase a 5-bedroom, 3-bathroom single-family residence with 3,510 sq. ft. in Berkeley, California.
The purchase price was $2.1 million and the buyer put down $700,000 plus closing costs.
Once small improvements are made, the property will be staged and resold.
The borrower expects to have this property resold and the loan paid off within 3 to 4 months.
The subject property is located near The UC Berkeley campus and is therefore in a fantastic rental market.
The most recent tenants of the home were UC Berkeley students.
Our borrower is a repeat client and has proven to have a keen ability to buy and resell properties for a profit.
Crescent Lenders is a top rated private money lending company providing loans around The Alameda area.
We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.
Whether you've found the ideal location for an assisted living facility in Pasadena or you're in need of refinancing a bridge loan that's coming due in Long Beach, Crescent Lenders is here to help.
Our team of experienced private money lenders specializes in providing customized lending solutions for a wide range of real estate needs, including bridge loans, fix and flip loans, and cash-out refinancing.
With a commitment to exceptional customer service and a deep understanding of the California real estate market, we strive to exceed your expectations and help you achieve your goals.
Checkout our fix and flip loans California page for more information.
Suite #116, 999 Overland Ave
Los Angeles, California