Cetan Funds recently funded a mid-construction fix and flip loan in Sutherlin, Oregon. This home was partway through construction by a builder when he got into legal trouble. After a lengthy court case, the investors that backed him won title to the property. They quickly listed it for sale, despite its partial completion, to get as much of their investment back as possible. Our client, a licensed general contractor looking for a fix and flip to work on over the Fall and Winter seasons, quickly scooped up the deal, getting it in contract on the first day. This home is in a new subdivision surrounded by quality, new homes.
Cetan already had this general contractor pre-approved for Fix and Flip financing, which help expedite the process. We were able to quickly 90% of the project costs for the borrower and close on the purchase without any delays. As an experienced contractor, he is just the right guy to finish the build and get the property flipped to happy new homeowner. Our borrower immediately got to work and arranged subcontractors to finish wiring and plumbing the house. He expects to have it listed in 3 months or less!
Loan Purpose
Cetan Funds specializes in fix and flip loans designed for investors looking to purchase, renovate, and resell properties for a profit. These loans provide the necessary funding to improve property value and maximize returns upon sale. After the renovations are complete, borrowers can quickly sell the property and repay the loan.
Our fix and flip loans can finance up to 90% of the project costs, including renovation expenses. With terms of 6 to 12 months and interest charged only on the outstanding balance, these loans offer the flexibility and speed investors need to capitalize on real estate opportunities. Cetan Funds can finance almost any property in any condition, including distressed fixer uppers and partially build construction projects, almost anywhere in Oregon or Southwest Washington.
Location
Sutherlin, Douglas County, Oregon
Loan Terms
$320,000 at 12.0% interest only on funds drawn for 6 months
