Do you have an existing property or home that requires a significant remodel? Have you discovered an excellent investment property or home that needs to be totally rehabbed?
Sunrise Lending Group provides a unique renovation loan program for investment properties in the San Francisco Bay Area and all through California.
The majority of California renovation loan programs just go to a loan amount to 400k. There is a large market for high end luxury market remodeling loans.
For an instance, take a look at San Francisco properties with an average sales price of more than $900, 000. Thus, all the rehabilitation or renovation loan programs are virtually removed in the San Francisco market.
The question after that becomes how does the investor obtain a jumbo renovation loan in California?
Primarily, listed below are a few questions to determine if your loan request will be feasible at this time:
— How much money can one provide on the table?
– Have I successfully rehabbed/renovated before?
– What is my exit strategy?
– What is the particular fire sale value of the property when completed?
– Is my budget realisti and practical?
– Am I putting the best finishes on the property?
– Do I possess any other property that I can cross collateral with my first deal?
– Is my property in an extremely desirable area?
Being an investor in the luxury market there is a much greater risk aspect compared to rehabbing entry level properties. Nevertheless, if|in the event that properly planned with the help of, the actual rewards are usually huge.
We have come up with an excellent team at Sunrise Lending Group and would be pleased to help you structure your upcoming investment. Whether you are in need of a good acquisition loan or if you currently own the home or property –we’re right here to assist. We also specialize in construction completion loans, bridge loans, and large renovations loans.