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Some
recent loans in detail
New Jersey
Investor purchased a two-family home in short
sale from a bank. Property value is
$250,000. Purchase price was $118,000.
Renovation cost of $20,000 needed to complete
property. Gala Resources lent investor 75% of purchase and
renovation cost. Property to be finished and
ready for sale within 90 days for projected
completed value.
Brooklyn
Investor purchased a two-family REO from a
financial institution for $215,000. Property
value upon completion was projected to be
$350,000. Gala Resources lent investor 90% of the purchase
price. Investor provided all funds for
renovation. Property was completed within four
months and sold. Gala Resources was paid off in full. No
prepayment penalty.
Queens
Investor purchased a two-family home in short
sale from financial institution for
$265,000. Home required $25,000 for renovation.
Gala Resources lent borrower 90% of the purchase price and
renovation costs. Property was completed and
sold within five months. Gala Resources was paid off in full.
No prepayment penalty.
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