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Encinitas, CA – TaliMar Financial, a Encinitas Hard Money Lender, is excited to announce the most recent funding of a $1,590,000.00 Hard Money Fix and Flip Loan, secured on a Triplex in Encinitas, CA. The loan was originated by Brock VandenBerg.
The Borrower contacted TaliMar Financial because they were seeking a short-term private money rehab loan that included a construction reserve for the renovations. Once the Borrower completes the renovations on the multi-family property, they intend to refinance with conventional financing and hold it as a long-term rental.
The biggest hurdle on this transaction was the loan size, property type, and time to close. Because many hard money lenders prefer to stay at loan sizes below $1 million, the Borrower had limited options. Additionally, being the property was a triplex, many lenders have trouble valuing the property. And third, they had 10 days to close on the property. TaliMar Financial was able to work with the client to overcome all of these issues and fund the loan.
This loan was a great example of why real estate investors that purchase multi-family properties trust TaliMar Financial to fund their bridge loan requests. As a direct lender with our own source of capital, we have more flexibility to structure loans around the needs of the client and fund quickly.
Special thanks to Andrea Schmitt at Foundation Escrow- Camino and Patty Meredith at Chicago Title Company – Northside for assisting us with the close.
About TaliMar Financial
TaliMar Financial is a San Diego hard money lender that specializes in funding residential and commercial Fix and Flip, Construction, and Bridge Loans. As a direct private money lender, we offer aggressive financing options and typically close our transactions in less than 7 business days. We work directly with real estate investors and property owners as well as real estate agents, mortgage brokers, and other real estate professionals.
Contact TaliMar today at (858) 242-4900 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.
Up to 80% of Value
Purchase / Refinance
As Low as 3.875%
Interest Payments Available
Cash Out OK
Minimum Documentation
Business Purpose Only
Up to 70% of Completion Value
12 – 24 months
Low Rates
Interest Only Payments
Single Family and Multi-Family
California Only
Business Purpose Only
The Preferred Borrower Account Program was designed for the real estate investor. The PBA Program offers real estate investors a secure source of capital for their real estate deals. By getting approved, investors will have access to a TaliMar Financial Letter of Credit, property specific Proof of Funds Letters, 5 Day Expedited closings, and our Wholesale Deal Marketplace.
The process of getting approved is simple. Apply today!
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