Sherman Oaks, California Funded Hard Money Loan

Property Type: Condominium

Lien Position: 1st Trust Deed

Loan Amount: $260,000.00

Appraised Value: $406,000.00

LTV: 64%

Loan Rate: 12%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “12” Months Interest Only

Condominium located in Sherman Oaks, California where our company arranged a $260,000.00 1st Trust Deed Hard Money Loan

Sherman Oaks, California – Our client, was looking to purchase the Subject Property and is planning on making necessary and desired upgrades following the closing of escrow badly damaged condo in Sherman Oaks, California.

Once all repairs and upgrades are completed, the client plans to lease the Subject Property.

The Borrower has very good credit.

She also owns a number of rental properties and has extensive experience in managing real estate rental properties which provides her monthly cash flow in addition to her business income.,

Our client purchased the Subject Property by way of a Short Sale and as such is purchasing the subject property below its current market value. Sherman Oaks, California

We believe that the loan has many strong points. The LTV for the loan is only 64%. The Borrower has very good credit. The property is located in a great part of the San Fernando Valley. The property will be improved and upgraded by the Borrower. The Trust Deed Investment has a good rate of return with very little risk

The plan of payback: the Borrower plans to refinance the purchase loan through an institutional lender after the Subject Property has been fully improved and upgraded and prior to the maturity of the proposed purchase loan.

The loan was closed in “2” weeks from her loan application. Sherman Oaks, California