Check out this Wasco, CA fix & flip from one of our investment partners. They did a great job with this remodel. The home was purchased in Dec 2022 for 175k, and it was back on the market in under 4 months. The property was sold for $290k in June of 2023. The market in Wasco has remained fairly stable as rates have risen steeply in 2022. The median home price only dropped by about 1.5% from it’s peak in September of 2022 and now sits at about $287k. Like much of California, the home prices appear to be on the rise again as we make our way through the buying season.
Lantzman Lending is a hard money lender and did a loan for the client for $161,000 on a purchase price of $175,000. 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.
Check out his article on the advantages of using hard money for your next investment: