The borrower acquired a 1,410-square-foot, 2-bedroom, 2-bathroom home on a 9,400-square-foot lot in Covina, California, for $525,000.
Due to multiple offers, the buyer had to go over the asking price.
Over the past two years, Crescent Lenders has provided the borrower with numerous private money loans to purchase six separate properties.
The subject property will be a light remodel and then resold for a profit.
The borrower put down 35% of the purchase price, and Crescent Lenders supplied the remainder of the funds to complete the transaction.
Whether you need a 1031 exchange loan for a North Hollywood multi-family apartment complex or an inheritance loan for a residence in Montebello, whatever your circumstances, Crescent Lenders is ready to help.
Check out our Fix and Flip Loans California page for more information.
