Recent Funding: $1,295,000 Fix and Flip Loan in San Diego, CA

San Diego, CA – TaliMar Financial, a San Diego Hard Money Lender, is excited to announce the most recent funding of a $1,295,000.00 Hard Money Fix and Flip Loan, secured on a single family home in San Diego, CA. The loan was originated by Brock VandenBerg.

The Borrower contacted TaliMar Financial because they were seeking a quick close on single family home that had been converted into three units. The issue was the third unit not been fully permitted. We met with the Borrower at the property to better understand the layout and learn more about the unpermitted unit. In learning more about the project, the seller had obtained approval for the additional unit but did not pay the permitting fees. Nonetheless, they leased the unit resulting in the building department recording a building code violation on the property. Our borrower plans to resubmit for approval, pay the charges, and hold the property as a long-term rental.

The biggest hurdle on this transaction was the building code violation. However, because TaliMar Financial is a private real estate lender that focuses on residential rehab loans, we can often structure our loans around structural issues of a property.

This loan was a great example of why real estate investors contact TaliMar Financial for their hard money Fix and Flip loan requests. As a direct private money lender, we offer the flexibility that many investors in real estate need to close quickly and buy properties that don’t meet bank underwriting criteria.

Special thanks to Tracy Huntington and Adam Fukushima at Corinthian Title Company for assisting us with the close.