Baldwin Hills, California Funded Private Equity Loan
Property Type: Single Family Residence
Lien Position: 2nd Trust Deed
Loan Amount: $40,000.00
Appraised Value: $410,000.00
Loan Rate: 12%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “24” Months Interest Only
Baldwin Hills, California – Our Borrowers, Husband and wife obtained a new 2nd Trust Deed on their investment rental property that they purchased in 2013 in order to obtain funds to satisfy the current 2nd Trust Deed and to make additional repairs and upgrades to the Subject Property.
Following purchasing the property, the borrowers have invested approximately $30,000.00 in upgrades and repairs to the Subject Property. The Borrowers have good credit.
The loan is to pay off the current 2nd Trust Deed that is owing to a family friend who needs to be paid back as soon as possible.
The first trust deed has an outstanding balance of $180,000.00 and all mortgage payments have been made on time and is current on the Subject Property in Baldwin Hills, California.
The property generates sufficient monthly rental income to pay the operating expenses of the Subject Property and we were able to arrange the requested loan without the need of an Appraisal Report.
The Borrowers are intending to sell the property in the Summertime, so the loan will most likely not stay in place until maturity.
We believe that the loan has many strong points. The LTV for the loan is only 54%. The Borrowers have good credit. The Subject Property is located in an area of solid property values. The Subject Property is also located in a strong rental area. The Trust Deed Investment has a good rate of return with very little risk.
The plan of payback is to sell the Subject Property later this year.
18034 Ventura Blvd Suite 244
Encino, California 91316