Hollywood Hills, California Funded Hard Money Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $80,000.00
Appraised Value: $650,000.00
Loan Rate: 10.75%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: “36” Months Interest Only
Hollywood Hills, California – Our Borrower contacted our company when she was ready to refinance her 1st Trust we arranged for her. She lives in the UK and the Subject Property is rented in the Hollywood Hills, California.
We believe that the loan has many strong points. The LTV for the loan is only 15%. The Subject Property’s monthly rent will cover all property expenses. The property is located in the Hollywood Hills, California. The Trust Deed Investment has a good rate of return with very little risk
Our Borrower contacted our company when she was in a fight with the city of Los Angeles’s Building and Safety Department regarding claimed Building Code violations, where the city was requiring that repairs be made to her hillside single family residence in the Hollywood Hills, California. She lived in the UK and the Subject Property was rarely used, was Free & Clear and where she would stay at when she was in Los Angeles.
After many months of back and forth negotiations with the Building & Safety Department, an “Agreement” was finally agreed to with the City of Los Angeles regarding the required repairs the city would accept, and further that our Borrower was willing to make, together with the associated costs and expenses. After the Agreement with the City of Los Angeles was signed by both our Borrower and the city, our Investor was then willing to fund the requested loan behind the City’s Building & Safety Code Violation lien.