Valley Glen, California – Our client, who is purchasing the Subject Property with the intention of possibly retaining it as a rental property. The Borrower is an active real estate investor in addition to also being a real estate agent. Our company has arranged and funded many loans for our client over the last “5” years.
Our client buys, Fixes and Flips properties……. but at times retains some of the properties he purchases as rentals. The borrower is purchasing the Subject Property for $275,500.00. The Borrower is putting in $82,500.00 as a down payment. He will also deposit all additional necessary funds to cover closing costs. The LVT for the loan is 51% relative to the Subject Property’s Current Estimated Market Value. The Appraisal is currently in process and we will forward when completed if requested.
The borrower intends to invest approximately $40,000.00 to $50,000.00 in improvements and upgrades in Valley Glen, California. The property improvements and upgrades that our client will be making to the property will further increase the Subject Property’s value and thus lower the LTV for the proposed loan.
While many Fix & Flip investors operate on a shoestring, the borrower is well capitalized and is very conservative and has a very focused business plan. He consistently makes a very good profit on every transaction he has been involved with over the last “6” years.
We believe that the loan for $192,500.00 has many strong points in Valley Glen, California.
The LTV for the loan is 51%…………..based on current Market Value*. The Borrower has a FICO score of 702. The property is located in both a strong rental and sales area. The property will go through upgrades & improvements that will increase its market value. The Trust Deed Investment has a good rate of return with very little risk
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.
18034 Ventura Blvd Suite 244
Encino, California 91316