Lake Los Angeles, California Hard Money Funded Loan
Property Type: Single Family Residence
Lien Position: 1st Trust Deed
Loan Amount: $54,000.00
Appraised Value: $125,000.00
Loan Rate: 12%
Loan Type: Fixed Rate – Interest Only
Occupancy: Vacant – Investment Fix & Flip
Term: “1”2 Months Interest Only
Lake Los Angeles, California – Our Borrower contacted our company in February 2016 requesting additional funds to complete the rehab of a Single-Family Residence in Lake Los Angeles, California. The Subject Property was Free & Clear since they paid cash and paid all repairs costs in cash. We arranged a new 1st Trust Deed for $54,000.00 that provided them the necessary cash that allowed them to totally complete the project.
Our Borrower later sold the property for a very good profit in Lake Los Angeles, California.
We first arranged a $54,000.00 1st Trust Deed Loan for the on a property purchased in his Mother’s name and which was fire damaged and in terrible condition. The borrower made extensive repairs and upgrades to the Subject Property. The borrower invested approximately $25,000.00 of his own funds in the project.
$54,000.00 1st Trust Deed Hard Money Loan at 12%. Borrower later sold the property for a very good profit.
Many photos relating to the before status, progress status and after completion status of the Subject Property are provided.
The plan of payback is to either sell the property or possibly to retain as a rental property in which a refinance of the loan will take place prior to the maturity of the loan.