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Closed Contra Costa Hard Money Rehab Loans


This transaction is for a property located in the San Francisco Bay Area and we were able to secure a hard money rehab loan for acquisition and rehab.  The funding on this transaction was fairly aggressive, with the buyer coming in with about 10% of the purchase price cash.  We were able to secure rehab funding for the rest of the purchase price, plus the cost of rehab and six months of interest payments.  The loan is a 12 month loan with no prepayment penalty.

The subject property is a one story 1,587 square foot single family home with 3 bedrooms, 2 baths with an attached 2 car garage, located on a 10,560 square foot lot and built in 1965. There is central air and heating throughout the house, a large living room, a dining room, laundry hook ups in the garage, a master bedroom, 3 bedrooms total, a large covered porch in the back yard off the living room and a fireplace in the family room. The house has a stucco exterior, a composite shingle roof and a wooden fence around the perimeter. The house has already been gutted by the current owner, therefore work can finish quicker.

Improvements to be completed will modernize the house while keeping its look. The interior work is cosmetic and will be overseen by the borrower and the general contractor. The work to the house will include replace the kitchen cabinets, install granite counter tops, install tile back splash in the kitchen above the cabinets, replace all interior doors, remodel the bathrooms with new vanities, sinks, shower stalls, fixtures and tile, install floor tile in the kitchen, dining room and bathrooms, install laminate in the family room and hallways, install carpet in the living room and bedrooms, replace the exterior doors, replace the HVAC unit and clean the ducts, replace the water heater, install recessed lighting in the kitchen and family room, sheet rock, tape and texture the garage, install window blinds throughout the house, install new retro windows and sliders, install baseboards throughout the house, patch and texture the interior of the house, paint the interior and exterior of the house, install new stove, range, microwave, dishwasher and refrigerator, minor plumbing and electrical repair and general clean up.

The total cost will be $74,500. Work on the exterior of the house will include removing the asphalt from the driveway and extend the driveway six feet towards the fence, put in a walkway from the new driveway to the back of the house and connect to the porch, make new steps to the family room’s sliding glass door, pour a new driveway with colored stamped concrete, landscape the front yard, side yards and back yard by leveling the soil and install new sod, trim the trees and shrubbery to open up the front yard, remove the old wooden fence and  install a new fence, install a new sprinkler system and general clean up. Total cost for the exterior work will be $24,500. Permits will be necessary for the driveway work and the steps on the side of the house.  Work is expected to take 8-10 weeks, after which the property will be listed for sale.

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