GO BACK TO ALL RECENT LOANS CLOSED
Loan Type: Rehab/Construction Loan
Location/Street Address, City, State: Park City, Utah
Original Purchase Price: $675,000
Amount Borrower Spent on Construction: $1,300,000
Amount Borrower Needed to Complete Construction: $500,000
Final Sales Price: $4,000,000
Interest Rate: 12%
Located close to Deer Valley Ski resort, this spec home in Park City, Utah became a nightmare construction project for a
local real estate investor. With no funds to complete the home in time for the high selling season, the real estate investor
came to Private Money Utah for a hard money loan. The real estate investor completed the home, sold it within 6 months,
and still made a nice return. Without the help of a hard money loan, the investor would not have been able to finish this
spec construction project in time for the winter.
