Out-Of-The-Box Hard Money Lending
Yuma properties are typically outside of our underwriting box, and yet, the borrower on this property impressed us with his remodel. He owned two properties free and clear, which allowed us to cross-collateralize and offer him 100% of his purchase price, plus the majority of his construction costs. The borrower closed on the property January 4th and had it up on the market April 4th, exactly three months later. Within three days, the property was under contract with a full-price offer.
This is a great example of creative underwriting, since, after all, things don't always fit perfectly into a box.