Check out this Fresno, CA fix & flip from one of our investment partners. They did a great job with the remodel, and they got in and out quickly. The home was purchased in Jan 2023 for 205k, and it was back on the market in less than 60 days. From the purchase to sale, was exactly 120 days. The property was sold for $340k in April of 2023.
As we are coming into the spring months, prices have stabilized and are increasing in many markets across California. This property went under contract in 6 days and sold above list price. In fact, it sold above the expected resale value of both the lender and the investor when the property was purchase back in January. Fresno County has 4 consecutive months of increasing median home prices. During that time the median home price has risen for $375k up to $410k. That is price increase of almost 9%!
Lantzman Lending is a hard money lender and did a loan for the client for $194,000 on a purchase price of $205,000. This includes purchase and construction funds. We are lending throughout CA to investors up to 85% loan to cost for fix and flip investments. This includes loans up to 85% of the purchase price and 100% of the construction funds.
Link to loan types: https://www.lantzmanlending.com/loan-types/