Cetan Funds recently funded a residential bridge loan in Newport, Oregon. The borrower was a real estate broker and investor from California. This investor was buying the property at auction for a heavily discounted price but needed either all cash or a hard money loan. We quickly provided to funding so he could complete the purchase. After just a few minor repairs, this investor listed the property and sold it for a substantial profit, only holding it in his portfolio for a couple months.
Loan Purpose
Location
Newport, Lincoln County, Oregon
Loan Terms
$342,500 at 12.00% interest for 6 months
