The borrower is a repeat borrower with Pacific Private Money and has great credit (782 mid fico score). He came in with 30% down plus closing costs (approx. $260,000). Upon completion of upgrading the property, the borrower will sell the subject collateral in order to exit the loan.
Due to the borrower’s need for a speedy close, conventional financing was not an option.
Pacific Private Money sourced private money and was able to quickly close this purchase fix & flip.