Like most real estate investors in 2008, Center Street Lending had clients that were really in need of a hand up to get started again after they were hit hard when the real estate market bubble burst when the big banks failed. This particular client was previously a very successful and knowledgeable real estate entrepreneur who has a unique and distinct design style – today his house flip projects are highly sought after and the release of each is anticipated months in advance. The lending experts at Center Street recognized he was a smart, reliable investor and here is his story.
This investor, who has chosen to remain anonymous, was in the boat most real estate investors are in at one point or another - lacking the capital to get deals going. Before finding CSL, this start-up investor lost a lot during the market downturn and went through some really tough times. But as the market started to rebound in 2010 he got his feet back in but needed capital and a lender with confidence and forethought to get him going again.
The first deal CSL pushed through for this investor was a 400K project and CSL was able to finance the closing amount and the repair costs to complete the renovation. And the amazing part is they did it all with a quick 5 day close from start to finish! This fast closing time allowed the investor to snag an additional discount on his closing costs – further helping pad his bottom line.
This investor made smart use of the loan and earned a good return on that first deal within 7-8 months. Soon after, he locked in another flip within that price range and was off and running, always coming back to Center Street for their reliable, courteous and speedy funding process. Today this once struggling investor is doing million dollar flips consistently. And he one of the more popular Hollywood area investors – people know and love his remodeling style. In fact his homes have become so popular there is a waiting list for his deals! He has been featured in area news articles and recently signed a contract with HGTV to do a reality show that will follow him as he successfully buys and flips houses in the Los Angeles area. And behind the scenes, Center Street Lending is there financing every deal.
Center Street Lending was flexible on pricing when deals were tight on margins – so that he could keep going and get to the point he is today. CSL also financed the rehab money he needed so he could fix up the properties. This has proven to be a great partnership and CSL is proud to call him a success story.
Become the next CSL success story yourself – call (949) 244-1090 today to talk to an expert lender about your options to get started fixing and flipping homes in your area. Your success is only a call away or click away!