Single family acquisition to remodel and flip
– Distinguished builder / developer requested acquisition loan.
– Viewcrest Capital funded 85% of the purchase price with no third party appraisal requirement.
– Construction completed in 4 months; Pending 3 days after listing on MLS; Client realized equity plus profit in less than 6 months.
– Client generated a return on invested capital in excess of 100%.
Viewcrest Capital was approached by a distinguished local builder/developer to fund the purchase of a distressed Shoreline home that required extensive restoration. The builder explained he was reestablishing his construction business after the recession and was seeking down payment flexibility. After evaluating the property, scope of remodel and determining a less than 60% LTV, Viewcrest Capital agreed to fund 85% of the purchase price without a third party appraisal. The project completed on time, the remodeled property sold for materially more than the underwritten target sale price and the client ultimately realized in excess of 100% return on capital invested.