Fix and Flip Loan | Mill Valley, California

The Opportunity

A broker had an experienced flipper client who found the opportunity to purchase a home in Mill Valley, California, a Marin County community just north of San Francisco via the Golden Gate Bridge. The property needed cosmetic updates to become a marketable home in this high-end area.

The month before, the broker had successfully placed a loan for this client on fix and flip loan with Lima One. He reached out to see what type of financing would be available on this Mill Valley property.

The Solution

Lima One provided a 13-month interest-only fix and flip loan at with 100% financing of the construction budget. The high leverage allowed the borrower to complete the $1.3 million purchase with only 10% down to set up the light-rehab flip.

The borrower also benefited from knowing exactly how much runway he had to borrower with Lima One because his six-month exposure limit was already set. This let the borrower bring three million-dollar flips to Lima One within 30 days, helping scale the investment business more quicky. Once the flip began, the borrower moved with confidence because Lima One’s FastTrack rehab draws can make funds available in as little as 24 hours. 

With an appraised after-repair value of $1.75 million, the investor is set up for a solid profit thanks to Lima One’s fix and flip financing program. Meanwhile, the broker benefits from a relationship with Lima One that allows him to serve the investor with excellence.