55k rehab loan for investment property

[Richard Huizar]

Investment Info:

Single-family residence hard money loan investment.

Cash invested: $55,000

Borrower came to us for cash to rehab this property and small amount of cash so that they can refinance with a traditional lender and pullout max cash. Property is used as an office and music studio. Borrower owned for many years and was free and clear.

What made you interested in investing in this type of deal?

Length of ownership and that it was free and clear. Borrower had done some work already so they had plenty of skin in the deal.

How did you find this deal and how did you negotiate it?

Broker brought me this deal.

How did you finance this deal?

Hard money loan from my company

What was the outcome?

Borrower is starting rehab and will complete and refi to pay me off