Property Type: Single Family Residence-Investment Property
Lien Position: 1st Trust Deed
Loan Amount: $200,000.00
Appraised Value: $415,000.00
Loan Rate: 11%
Loan Type: Investment Purpose
Occupancy: Non-Owner Occupancy
Term: 24 Months Interest Only
Los Angeles, California – Our Borrower/Client, was looking to obtain a new $200,000.00 1st Trust Deed Loan on his Single-Family Residence Investment Property located in Los Angeles, California.
The purpose for the proposed $200,000.00 1st Trust Deed Loan is to payoff the existing $130,000.00 1st Trust Deed Loan, and to provide the client with sufficient funds to complete the renovation of the Subject Property to get it into “Rent Ready” condition. Any additional funds will be used by the borrower to make needed repairs to his “Other” investment properties.
The borrower has had health issues over the last several years, that prevented them from being able to repair, and further rent out several properties he owns. Los Angeles, California.
The plan for payback of the proposed $200,000.0 1st Trust Deed loan is for the borrower to refinance the Subject Property prior to the maturity date.
We believe that the loan had many strong points.
We can fund a hard money loan on an existing rental property already owned by our borrower or on a property being purchased. Either way, our Borrower’s credit will not prevent us from assisting with real estate financing to take advantage of a possible money making opportunity.
When cash is needed, or an existing loan has come due for payoff, our investment loans can be used by our borrowers to pay off financial obligations without the unfortunate decision to sell a property to pay off an obligation. Los Angeles, California.
We believe that just because borrowers have bad credit or low income, they should not be prevented from getting the residential hard money loan they need.
18034 Ventura Blvd Suite 244
Encino, California 91316