CapturePacific Private Money recently funded a $680,000, 52% LTV, 68% loan-to-price purchase for a fix & flip property in Oakland.

The subject property is 1.4-acres (3 lots) in the Oakland Hills and contains a single SFR built in 1928 of 2,664 sq. ft. with 2 bedrooms and 2 baths. The property is located at the end of a cul-de-sac and presents tremendous upside development potential. The borrowers plan to remodel the existing home and possibly build homes on the other two lots.

…The borrowers have excellent credit (800 and 716 Fico mid-scores) and stable employment with a strong income.

The property is an unusual property that did not fit into the guidelines of conventional lenders. Pacific Private Money was able to source private equity and fund this transaction.

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.