RECENT DEALS
LA MESA, CA
LOAN AMOUNT:
$338000
RATE:
12.99%
APPRAISAL VALUE:
$520000
TERM:
12 Months
REHAB BUDGET:
$50000
LIEN POSITION:
1ST POSITION
Although this property's remodeled value would put it in a price point a little higher than most of the properties we lend on, we moved forward on the project because the negotiated purchase price was so good and the borrower's track record with Windvest was impeccable. The quality of work put into the property was outstanding, and after listing the property for almost $100,000 more than the predicted After-Remodel Value, it was under contract in just 57 days.
LOS ANGELES, CA
LOAN AMOUNT:
$494000
RATE:
12.99%
APPRAISAL VALUE:
$760000
TERM:
12 Months
REHAB BUDGET:
$75000
LIEN POSITION:
1ST POSITION
This will be the most comprehensive remodel we have originated a loan for. It is one of our most preferred borrowers, an investment company with years of experience and dozens of past properties in this area. The property consists of a grand home from 1913 that will be restored to it's original beauty. The borrowers have already received inquiries from several neighbors, and they are expecting a bidding war when it goes on the market.
SAN MARCOS, CA
LOAN AMOUNT:
$201000
RATE:
12.99%
APPRAISAL VALUE:
$225000
TERM:
12 Months
REHAB BUDGET:
$28000
LIEN POSITION:
1ST POSITION
These investors had been working as partners/students with one of our preferred borrowers on several projects. This was the first project they accomplished as the sole borrower. They managed to get the property completely finished in a few weeks, under contract after only one day on the market, and the loan paid off in full just 68 days after origination. They are currently working on several new deals.
POINT LOMA, CA
LOAN AMOUNT:
$367250
RATE:
12.99%
APPRAISAL VALUE:
$565000
TERM:
12 Months
REHAB BUDGET:
$40000
LIEN POSITION:
1ST POSITION
One of our preferred borrowers came to us wanting to take a step up into the exclusive neighborhood of Point Loma. Because we had seen several examples of their quality of work, and they had a perfect pay history, we were comfortable that they could handle the upscale remodel. It went off without a hitch, and the property sold after just 2 weeks on the market.
POWAY, CA
LOAN AMOUNT:
$253000
RATE:
12.99%
APPRAISAL VALUE:
$390000
TERM:
12 Months
REHAB BUDGET:
$45000
LIEN POSITION:
1ST POSITION
Another property where "foundation issues" scared off most of the potential buyers. Our borrower got it for a steal. The foundation needed about $3,000 of concrete work, and a minor sewage pipe fix, and it was good as new. Currently on the market to be sold for top dollar.
LOS ANGELES, CA
LOAN AMOUNT:
$212500
RATE:
12.99%
APPRAISAL VALUE:
$338000
TERM:
12 Months
REHAB BUDGET:
$35000
LIEN POSITION:
1ST POSITION
This property was an eye-sore in the neighborhood. Previous owners had added a second story, not keeping with the architectural style of the neighborhood. Our borrower got it for a great price because of this, and was able to make it stand out for all the right reasons. It sold after only 12 days on the market.
SAN DIEGO, CA
LOAN AMOUNT:
$344500
RATE:
12.99%
APPRAISAL VALUE:
$530000
TERM:
12 Months
REHAB BUDGET:
$40000
LIEN POSITION:
1ST POSITION
This was another quick-close. The lender took about 6 months to approve the buyer's offer, and then gave them less than one week to close. Windvest stepped in, completed our underwriting and property inspection, and funded the loan in time to avoid the foreclosure sale. The entire remodel was completed in just under 5 weeks.
COMPTON, CA
LOAN AMOUNT:
$81000
RATE:
12.99%
APPRAISAL VALUE:
$190000
TERM:
12 Months
REHAB BUDGET:
$23000
LIEN POSITION:
1ST POSITION
The borrower for this loan remodeled the property directly next door. It was a very similar home, and it was already under contract so we had a perfect estimate of value for this new project. With an LTV of only 42%, Windvest was in a very strong, secure position.
SAN DIEGO, CA
LOAN AMOUNT:
$211250
RATE:
12.99%
APPRAISAL VALUE:
$325000
TERM:
12 Months
REHAB BUDGET:
$35000
LIEN POSITION:
1ST POSITION
One of our preferred borrowers came to us with this deal. It was a standard, cosmetic flip. The loan was originiated, house was remodeled, listed, sold, and the loan paid off in only 71 days.
SAN DIEGO, CA
LOAN AMOUNT:
$214000
RATE:
12.99%
APPRAISAL VALUE:
$325000
TERM:
12 Months
REHAB BUDGET:
$10000
LIEN POSITION:
1ST POSITION
This borrower could not find funding through other lenders because he had limited capital to invest. Windvest was able to give him a loan on another property he owned outright, providing him with the cash he needed to close on the loan we gave him for this property. We found a creative solution to help this borrower take advantage of this great project.
SAN DIEGO, CA
LOAN AMOUNT:
$192000
RATE:
12.99%
APPRAISAL VALUE:
$295000
TERM:
12 Months
REHAB BUDGET:
$36000
LIEN POSITION:
1ST POSITION
After having the closing date pushed back one week at a time for several weeks because the original lender could not fund, the borrower called us the day before the seller cancelled the contract. Windvest was able to underwrite the file, offer a loan, and wire funds to escrow in less than 48 hours to save the deal.
LOS ANGELES, CA
LOAN AMOUNT:
$218250
RATE:
12.99%
APPRAISAL VALUE:
$435000
TERM:
12 Months
REHAB BUDGET:
$65000
LIEN POSITION:
1ST POSITION
This property needed to be completely gutted to be brought back to livable condition, but it was a great opportunity for the investor. It is one of the largest remodel budgets we have worked with, but it is nearing completion and should be on the market very soon.
SAN DIEGO, CA
LOAN AMOUNT:
$172000
RATE:
12.99%
APPRAISAL VALUE:
$265000
TERM:
12 Months
REHAB BUDGET:
$36000
LIEN POSITION:
1ST POSITION
Because the second position lender took so long to agree to the terms of the short sale, the buyer for this property found out he had to close just three days prior to the closing date. Windvest did the full underwriting process, and funded the loan in time to save the deal.
ESCONDIDO, CA
LOAN AMOUNT:
$178000
RATE:
12.99%
APPRAISAL VALUE:
$315000
TERM:
12 Months
REHAB BUDGET:
$35000
LIEN POSITION:
1ST POSITION
This short sale was found through a wholesaler. The seller's bank would not allow the buyer's name to be changed on the purchase agreement. Windvest was able to structure the financing in a manner which relieved the wholesaler of all responsibility to the loan.
EL CAJON, CA
LOAN AMOUNT:
$285000
RATE:
12.99%
APPRAISAL VALUE:
$425000
TERM:
12 Months
REHAB BUDGET:
$60000
LIEN POSITION:
1ST POSITION
Several buyers offered around $350,000 for this property in As-Is condition, but could not obtain traditional funding due to the poor condition. We were able to fund our borrower in just over a week, and because of this rapid funding he was able to negotiate a price substantially under $300,000. It is being restored to its 1930’s glory and should easily get a price of well over $400,000.
SAN DIEGO CA
LOAN AMOUNT:
$162250
RATE:
12.99%
APPRAISAL VALUE:
$295000
TERM:
12 Months
REHAB BUDGET:
$25000
LIEN POSITION:
1ST POSITION
Our borrower had financing lined up for this REO, but the other company fell through at the last minute. Windvest was able to step in and get this loan funded in a matter of only a few days.
CHULA VISTA CA
LOAN AMOUNT:
$175000
RATE:
12.99%
APPRAISAL VALUE:
$300000
TERM:
12 Months
REHAB BUDGET:
$25000
LIEN POSITION:
1ST POSITION
This property was abandoned and basically needed a complete overhaul. Our borrower was able to come in with our funding, get it closed in just a few days, then resell the property and pay us off in only 63 days.
ANAHEIM CA
LOAN AMOUNT:
$178000
RATE:
12.99%
APPRAISAL VALUE:
$270000
TERM:
12 Months
REHAB BUDGET:
$34000
LIEN POSITION:
1ST POSITION
We were able to finance this property in the Historic District even though it was completely gutted by a previous owner who ran out of funds. Our borrower turned it into a true showpiece, selling it for well-above the expected price in just two days on the market.