Check out this Wilmington, CA fix & flip from one of our investment partners.
The home was purchased in Oct 2022 for $350k, and the property was sold for $825k in June of 2023. That is a very impressive return on investment. Quite possibly one of the best we have ever seen. Lantzman Lending is a hard money lender and did a loan for the client for $377,000 on a purchase price of $350,000. 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.
The Wilmington, CA market, which sits on the harbor just East of Long Beach, is down about 5% from it’s peak prices in September of 2022 with a current median home price of $639k. After dropping for 7 months, it appears to have found a footing in the past 3 months with prices leveling out and even slightly increasing. Like much of California it is experiencing low inventory with about 1.5 months of inventory for single family homes.
If you are looking to get a quote on your next loan: https://www.lantzmanlending.com/get-instant-quote/