Listing photoEl Cajon, CA 92020 · MLS 260020566
"BACK ON MARKET. .. BUYER BACKED OUT. .. Fixer home in great location! Close to Grossmont everything, Fletcher Hills and freeways, this home offers an opportunity to invest a little and get a lot!! Located on the peaceful but primary thoughfare of Severin & Garfield between frw 8 and Fletcher Parkway."
161 Garfield Ave is a 2-bedroom, 1-bath home in El Cajon, California listed at $599,000 with 819 square feet, built in 1951. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with at least one completed project puts 10% down ($59,900), we fund the $36,855 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. A California buyer can also close in 3 days with 35% down and no appraisal. See every hard money opportunity in California or our California hard money lending page.
From the listing. BACK ON MARKET. Buyer backed out. Fixer home in a great location close to Grossmont, Fletcher Hills and freeways, offering an opportunity to invest a little and get a lot with any remodel.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
| Item | Option 1: 35% down | Option 2: 10% down |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | Yes |
| Buyer down payment | $59,900 (10%) | $209,650 (35%) |
| Loan at closing | $539,100 | $389,350 |
| Cosmetic renovation, rough estimate* | We fund $36,855 | Buyer pays $36,855 |
| Total loan | $575,955 | $389,350 |
| Rate, interest only | from 9.25% | 10.5% |
| Points | 1.5 ($8,639) | 1.5 ($5,840) |
| Appraisal | Required | None |
| Estimated monthly interest | $4,440 at full draw | $3,407 |
| Cash to close, rough estimate | $72,929 | $215,490 |
Rough estimates at the list price of $599,000 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $45 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. The no-appraisal option is available in major California markets. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
More hard money deals in El Cajon All California opportunities Hard money lender in California Fix and flip loans Every live opportunity
Cash or hard money only"Cash or hard money only."
Cash or hard money only"CASH OFFERS ONLY, NO FINANCING"
Cash or hard money only"Cash buyers only – bring your contractor and make your offer!"
Get pre-qualified in one call and write your offer with the financing already lined up.
