Southern California Construction Completion Loan Funded

Chris Goulart

Our clients found a great deal on a home where construction was started but never completed.  The permits needed to be renewed and paid, and the existing structure consisted of only the frame, but our clients had experience in construction and have successfully completed deals with our lenders in the past so everyone was very comfortable that the work would be done.

The property was purchased for $176,500, and the cost to complete construction was estimated at $239,500 with an additional $70,000 needed for permit fees.  We were able to put together a gross loan amount of $476,000 for these clients, which included fund control accounts for the construction and the permits as well as seven month of interest reserves.  In addition, we were able to put a second loan on this property, crossing it with another property our hard money lenders had made a loan on, reducing their cash in requirement to almost zero.

The profit potential on this transaction is great.  The property is located in a desirable area and home sales are continuing to improve.  Our estimated as complete value on this particular property exceeded $700,000, making this a great opportunity for our clients to finish the project and make a good profit.  Many lenders would not make a loan of this nature, but we specialize in rehab and construction completion loans here in California.  With the proper structure we can often put together fundings that make sense for both the investors and our clients.

If you have been searching for a construction completion hard money loan, rehab loan or even a ground up construction loan, give us a call today.  If the property is located in California and the deal is profitable there is a good chance we can help obtain funding for the project.  Call us today at 877 462 3422, or visit our hard money construction completion page on our main site.

Google Users Reviews

Roseanne Baker
Roseanne Baker
18:45 07 Sep 18
Chris is extremely professional, is a hard worker, always responds back to my emails/calls promptly, and is an expert as what he does. I will definitely recommend him to anyone that is looking for lending services and I will continue to use him for all of my lending needs in the future. You will not be disappointed with his services.read more
lorraine pitre
lorraine pitre
18:44 07 Jun 17
I used All California Lending to provide me with a hard money loan. My loan representative was Chris Goulart. I needed the loan to close in 15 days. Mr. Goulart was able to close the loan in the time frame expected. Several things I admired about Mr. Goulart was that he had great communication via email, text and/or verbal. He was always available. I was even out of the country while he was processing the loan. I came back and the loan was completed. 5 Stars!!!read more
See All Reviews

BBB

Recent Posts