Palm Springs, California Funded Loan
Property Type: Single Family Residence
Lien Position: 2nd Trust Deed
Loan Amount: $350,000.00
Appraised Value: $950,000.00
Loan Rate: 12%
Loan Type: Business Purpose
Occupancy: Non-Owner Occupancy
Term: “18” Months Interest Only
Palm Springs, California – Our client, is looking to obtain approximately $150,000.00 cash out from the new 2nd trust deed on his Palm Springs investment property that we are currently arranging.
The property is located in Palm Springs California; the house is 2,462 Sq Ft on a 12,632 Sq Ft lot facing a very nice golf course. The property is in excellent condition, having been upgraded to a level of quality we rarely see………….the property even has a slate driveway!!
Our BPO value of $975,000.00 is a very conservative value. Due to the property’s outstanding upgraded condition the property is most likely worth even more than our value.
Everything that can be done to the property has been done………………it is in total “A” condition in Palm Springs, California.
The property is fully furnished with beautiful furniture and it is often rented out to celebrities and corporate executives on a short term basis through rental services such as Airbnb and through other corporate business services.
The borrower has been active in starting and structuring start up and existing business over the past 20 years. They work primarily with business owners in marketing, product branding and with Wall Street investment bankers in arranging venture and expansion capital for his clients and for his business equity positions. He has started and participated in a number of public and semi-public companies over the years.
His primary business has interests in several companies and business ventures where he participates in strategic positing and marketing strategies. The business he is looking for investment capital is a joint venture where he is a co-owner. His business partner, who was on a hit television show and they are marketing upscale pet products such as dog and cat collars, leases, pet carriers in addition to numerous other pet related products. In addition he is also developing a new Cancer drug right now for Pets and plans on filling with the FDA this year.
The Borrower is planning to sell his Los Angeles residence where he will net over a $1,500,000.00. He will have ample funds available to pay off the proposed new 2nd trust deed when the loan comes due for pay off.