Our client bought this investment mountain home in Big Bear in November 2020 and renovated and sold the property in January 2021. The turnaround time on the this property was impressive. They made some very nice improvements, and used the right finishes for the modern rustic design. Sold just in time for the winter ski season!
We did a construction loan for the client for $280,000 on a purchase price of $485,000. The property sold for $650,000 in January 2021.
Lantzman Lending lends throughout California.
- Up to 85% of the Purchase Price + 100% of the Rehab Construction Costs, or 65 – 70% ARV
- 1.5 – 3.0 points on most 6-18 month loans
- From 8.49% interest depending on LTV
- Rehab portion of loan held in Fund Control and released on draws (same day release)
- Interest is paid only on drawn amount of loan
- No prepayment penalty, extensions available