- Loan Amount: $225,000
- Interest Rate: 10.9%
- Term: 6 Months
- Property Type: Single Family Residential
- Loan Type: Fix and Flip
Tucson’s real estate market has been showing great strength this year, and is expected to continue going into 2017. Our borrower has already seen success this year with some of his real estate investments, renovations, and construction developments. By focusing on the development or renovation of small to mid-size home and mixed use projects, our borrower is able to sustain a healthy flow of projects in their pipeline.
With this fix and flip loan, our borrower took cash out of this fully completed property to finance the rehab of some of their other fix and flips. This is a common strategy that gives the investor flexibility with how much money goes into each project they may be working on at one time, or they may use this strategy to purchase another property.
With the work that our borrower has done in the past, we are excited to see how their next flips go, and that we continue to work with them.