INDIAN WELLS, CA
This 7,272 sq. ft. estate shines in the spotlight as this months featured fix and flip.
The gorgeous contemporary property comes from an experienced investor in Southern California who, before working with CIVIC, was facing financial challenges. His previous lender only allowed a small percentage of the total budget for rehab, which put the borrower at risk of potentially having to spend personal funds to float the remaining costs.
As the investors existing loan was coming to maturity, he reached out to CIVIC for alternative financing options. CIVIC not only helped the borrower avoid paying default interest but we also quickly provided the necessary financing to help bring the property over the finish line. With a total loan amount of $3,850,000 (including $2,500,000 cash-out + $1,350,000 for Rehab Financing), CIVIC financed 100% of the remaining rehab budget to maximize the borrowers liquidity. Our financing allowed him to successfully finish this flip with an estimated profit of $1,645,000 (!!). He was also able to complete two additional flips simultaneously as an added benefit of leveraging his capital with CIVICs rehab financing.