Hard Money Blues
Tarek and Christina get a lead on a listing in an upscale neighborhood of Whittier, California and although the entire home will need some serious updating from its original 1969 finishes, the renovation appears to be mostly cosmetic and comparable properties suggest great potential for profit. With all their money tied up in other flips, Tarek and Christina must secure a hard money loan to make an offer on the home; but that alone will cost them hundreds of dollars a day in interest and one never knows what budget-busting financial hazards could be lurking behind those popcorn-textured walls. Can their contractor renovate this big house in a small timeframe or will unforeseen problems leave the project a day late and a dollar short? Could this high-end home and its expensive loan leave Tarek and Christina singing the hard money blues?
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