Cetan Funds recently funded another fix and flip loan in Medford, Oregon. The borrowers found an underpriced fixer-upper listed on the open market and negotiating a good purchase price. With plans to do much of the renovations themselves given their background in home renovations, the rehab budget was reasonable and has the potential to dramatically increase the property value.
The sellers of the property needed a quick and smooth closing. Cetan Funds was provided a fix and flip loan to finance 100% of the renovation budget and 80% of the purchase price. So far the renovation is going very well with everything staying on-time and on-budget. The borrowers hope to have this property fully renovated and on the market in 3-6 months.
Loan Purpose
Cetan Funds offers fix and flip loans for the purchase, renovation and resale of residential property in Oregon and SW Washington. These loans are perfect for both new and experienced real estate investors looking to improve homes and communities while pursuing a profit from their hard work.
Cetan’s fix and flip loans typically fund up to 90% of the project costs. The loan includes funds for the repairs to the property. These loans are typically 6 to 12 months with interest only charged on the outstanding balance. Borrowers on fix and flips use leverage to maximize their return on investment and quickly rehab and resell their investment for a profit.
Location
Medford, Jackson County, Oregon
Loan Terms
$339,000 at 12.0% interest only on funds drawn for 9 months
