Pahrump, NV

The Opportunity

An investor looking to do their first fix and flip project found a property in Pahrump, Nevada, a town in at the edge of Death Valley National Park, about one hour west of Las Vegas. The property needed a basic cosmetic rehab including paint and new floors but not extensive structural changes—making it an ideal project for a first-time flipper.

The flipper had the property but needed a lender willing to work with a first-time flipper. His search led to Lima One.

The Solution

Lima One’s fix and flip program works for investors of all experience levels—including this first-time investor. Our in-house construction management team reviewed the rehab budget before the close, giving the investor confidence in a solid plan, and then issued construction draws quickly, ensuring the investor could keep the project on track.

The investor completed the rehab in just a few months and put the property up for sale at more than $50K above the costs of the project. When the property sells, the investor will have a successful first flip under their belt, money in their pocket for a future flip—and the ability to get even better rates and terms on future fix and flip financing at Lima One based on the experience gained on this project.