Cetan Funds recently funded a duplex bridge loan in Eugene, Oregon for an investor to quickly purchase a duplex just down the road from his primary residence. This property was a dream come true acquisition for this investor. Given its location, he would be able to self-manage the property and potentially turn one side of the property into a short-term rental/Airbnb.
However, to buy the property he had to compete with several very interested cash buyers. To get his offer accepted he needed a lender like Cetan Funds who could close very quickly and work almost the same as cash. He escalated his offer price to make the winning bid, and we closed just a couple weeks later. He is now already in the process of refinancing to achieve long-term financing at a lower rate and almost immediate positive cashflow on his new investment property.
$390,000 at 12.00% interest for 9 months