Gardena, California – Our Borrower purchased the subject property for $110,000.00 which was under the current market value. The property was appraised at $135,000.00 by a licensed appraiser.
While many Fix & Flip investors operate on a shoestring, our client is well capitalized and is very conservative and has a very focused business plan. He consistently makes a very good profit on every transaction he has been involved with over the last “6” years. Gardena, California.
Our Borrower intended to upgrade and make property improvements to the Subject Property. The LTV (Loan to Value) for the proposed loan of $77,000.00 was 57% based on the “As Is” Appraisal Report, which would provide a large amount of protective equity for our company’s Trust Deed Investor. Gardena, California.
Due to our Borrower’s long record of having our company arrange financing for his purchases, we were able to arrange a new $77,000.00 1st Trust Deed loan at 10.99 with a “12” month term in Gardena, California.
The plan of payback is to refinance the Subject Property with an Institutional Lender prior to the maturity date for the 1st Trust Deed Loan in Gardena, California.
$77,000.00 1st Hard Money Loan at 10.99% in Gardena, California
The borrower was very happy with the process of our real estate financing.