Transformative Fix and Flip with ADU in Santa Ana Success Story
- $269,500 1st Trust Deed
- 70.00% LTV on BPO Value
- 9.75% Annualized Return
- 12-month – Fix and Flip Loan
- MVI funds loan in 5 business days
The Subject:
- Address: 1925 S. Orange Ave, Santa Ana, CA
- Type: Single Family Residence
- Layout: 2 BR/1 BA
- Condition: Neglected and Dated
The Scenario:
- Large Lot not utilized for maximum value
- 2BR/1BA in 797sq ft on a 7,770 sq ft lot
- This property is in a gentrified area
The Solution:
- MVI provided an 70.00% LTV 1st TD for a contractor who is a repeat borrower
- Contractor to upgrade property to 4 BR, 3 BA home with an ADU with 1 BR/1BA JADU in 3,000 total sq ft
- Fast close was provided in 5 business days so demolition and construction could begin
- With MVI funds secured, the borrower went to work and transformed the property
- Fast Funding Based on Committed Terms with Funds Control in place
The Numbers:
- As is Appraised Value: $385,000
- Sold 7 months later for $875,000