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Chris Goulart, Broker Associate, DRE Lic. # 01458390 NMLS Lic. # 298819 Bay Mountain Mortgage broker Lic. #01227690
We specialize in California hard money loans. Many of our recent fundings have been luxury homes purchased with fix and flip or rehab funding. This transaction was recently closed in the County of Monterey on a higher end home in a highly prestigious area. The home is 5 bedrooms and 5 bathrooms containing a total of over 4400 sqft on a large lot of over 30,000 sqft with partial ocean views.
This home had not been updated in decades. Our client was able to get the property under contract for a great price and will completely transform the dated looking home into a high end modern home that will fetch top dollar.
In addition to helping finance the first deed of trust with a straight hard money loan we were also able to assist through the introduction of an equity partner. The equity partner in this scenario is secured in a second position and will be participating in the profits from the fix and flip of the property.
While this is not a small project – the rehab budget is over $400,000 – we were able to assist in helping our client obtain 100% financing on this project, including funds for interest payments and funds for the rehab work to be done (which are to be held in a fund control account). For higher end luxury home fix and flip hard money loans we have sources that can help finance a large portion of the total project cost. We can help with this type of financing throughout the state of California through our hard money and private money lender resources.
For more information on how we may be able to assist in the funding of your project, please call us directly at 877 462 3422. You can also visit or main California hard money loans page and navigate through the top navigation bar to find more information on the specific hard money loan product you are interested in.