Palm Springs, CA– TaliMar Financial is pleased to announce our most recent funding of a $366,000 Hard Money Fix and Flip Loan secured on a Single Family Home in Palm Springs, CA. The Borrower intends to complete a cosmetic update of the property before listing it for sale.
The biggest hurdle on this transaction was that the Borrower had never purchased an investment property to fix and flip. The loan was originally brought to us by his listing agent, who also agreed to partner with the
Borrower on the transaction, to ensure the renovations were completed and the property was listed appropriately. Once underwriting the Borrower’s financial condition and the listing agent’s prior experience flipping home, we structured an aggressive private money fix and flip loan.
As a Hard Money Lender, TaliMar Financial understands that no two transactions are the same. Therefore, we are always structuring hard money loans around the circumstance of the Borrower. In this case, the real estate investor lacked the direct experience of fix and flipping a home. But by adding an experienced party into the transaction, we were able to comfortable with the risk.
The Fix and Flip Hard Money Loan was structured with a Construction Reserve that funded 100% of the renovation costs. The hard money funds in the Construction Reserve will be disbursed to the real estate investor over five progress-based draws. Once the renovations are complete and the real estate investment property is listed, the final draw will be released to the Borrower.
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) 613-0111 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.