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The biggest hurdle on this transaction was the lack of comparable sales. Very few properties were sold with an accessory dwelling unit and in the condition of the Subject property once the renovations are complete. As a result, we used a blended cash flow income and comparable sales approach to come to a valuation.
The exit strategy on this transaction is once the renovations are complete and the Borrower shows income from rents, they will refinance our hard money fix and hold loan with conventional financing.
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.
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