THOR Financial is pleased to announce that it has successfully funded a $272,750 loan secured by a 4 unit residential asset in San Diego, CA.
The borrower acquired the distressed asset with the intention of selling the property after completing a full interior and exterior renovation. The resulting cash flow from the renovation offered the borrower a more lucrative ”long term hold” option. As a result, the borrower approached THOR Financial with the need for a medium term ”residential income property” loan.
THOR Financial structured the loan to provide the borrower with additional capital for future acquisitions and on ongoing maintenance of the asset and was funded within 14 business days.
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