Azusa, California – The Borrower had inherited several properties from his Grandmother. One of the properties was her former home that had sat empty for nearly 4 years. The property was in disrepair and needed substantial work to bring it up to rental or sales standards. The Borrower wanted to purchase a property in Big Bear, California that was comprised of numerous cabins that could be operated year round as rentals.
He needed the money fast, as there was a very short window of opportunity to purchase the property at the negotiated price. Our company moved quickly and was able to fund a loan without the necessity of making repairs to the property and allowed the property to remain vacant. Azuza, California
Our Borrower requested a second time that we provide financing to him on his Azusa, California rental house. We had arranged a $200,000.00 1st Trust Deed about a year earlier to get him funds to buy an operating business, but now he needed additional funds to make necessary improvements to the business he now owned. Since there was adequate equity in the Subject Property we were able to arrange a new $300,000.00 1st Trust Deed Loan that provided him the needed funds for his business. Azusa, California.
$300,000.00 1st Hard Money Loan at 9% in Azuza, California. Able to fund a loan without the necessity of making repairs to the property.
The plan of payback is that the borrower will obtain institutional financing prior to the maturity of the loan in Azusa, California.
The Borrower was happy with us and the process of receiving a Real Estate loan from our company.