untitledPacific Private Money just closed a $578,000, 64% LTV loan on a fix and flip in Corte Madera.The subject property is a 1,840 sq. ft. 4 bedroom, 2 bathroom SFR with views of the Bay and located in sought after Southern Marin County. This property is in inferior condition compared to the upgraded homes around in the neighborhood, thereby leading to large upside potential for the flip.

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.

Author: Mark Hanf

CA. DRE # 01811186 | NMLS No. 331091

Mark is Founder, President, and CEO of the San Francisco Bay Area-based Pacific Private Money Group of companies. Pacific Private Money Inc., the flagship company, is an alternative real estate mortgage lender founded in 2008 to provide consumers and real estate investors access to fast, reliable, and convenient capital.