We provided a hard money loan to help two business partners purchase a rundown property for a fix and flip in the prestigious Rose Garden District of San Jose, setting the foundations for a profitable venture.
The challenge
The duo applied to Equidy for a hard money loan to purchase a home for a fix and flip project.
Nestled in the heart of San Jose, the single-family home offered 1,136 square feet of comfortable living space on a spacious 5,250 square foot lot.
But that’s where the positives ended!
Built in 1920, the house was badly dilapidated and needed a full makeover, with a major focus on a complete external overhaul as well as upgrades to all kitchen appliances and bathroom fixtures.
Despite the challenges ahead, we believed in the vision and the ability of the property entrepreneurs to get the job done.
We provided a $475,000 loan to enable the purchase of the property for $950,000.
The result
The flippers delivered on their vision!
The property was successfully transformed into a fully updated two bedroom, one bathroom home, thoughtfully renovated to feature two beautifully designed living areas, including a bonus bright sunroom which is perfect for year-round enjoyment.
Both the kitchen and bathroom were completely modernized with new appliances, fixtures and stylish finishes, creating a fresh, inviting atmosphere throughout the home.
Outside, you’ll see that the front yard was completely transformed, featuring modern, clean landscaping and inviting curb appeal which enhanced the overall value of the home.
The property was purchased in April 2024, updated and then listed for sale and placed into escrow seven months later for $1,289,000, coming in at an increase of $339,000.
How can we help you?
Got a property dream? We can help you fund it!
Apply now … it only takes a few minutes. You can also book a free, no obligation strategy call with one of our experts to talk about the finance options available for your project.
