West Hills, California – Our Borrower had requested that our company arrange the funding of a new $80,000.00 1st Trust Deed loan on their FREE & CLEAR Subject Property in West Hills, California that will provide them the necessary funds to complete the final construction items. The Single-Family Residence is more than 95% completed. Following the completion of the last construction items they intend to sell the property.
We believe that the proposed $80,000.00 1st Trust Deed Loan has many strong points. The LTV for the loan is only 8%. The Borrowers have good credit. The property is located in a sold area of West Hills, California. A completed Single-Family Residence will add additional equity. The Trust Deed Investment has a good rate of return with very little risk
The proposed $80,000.00 1st Trust Deed loan is the 2nd time our borrower has requested our company arrange financing for an Investment construction property. Following is information on the prior loan transaction where our company assisted with the residential hard money loan.
We first arranged a $60,000.00 1st Trust Deed Loan on another Single-Family construction project to provide the necessary funds to complete the construction. Prior to construction requested an additional $60,000.00 advance on the $90,000.00 1st Trust Deed loan to make additional amenities that were not initially contemplated. Our Investor was agreeable to the Advance on the loan up to $150,000.00 where we prepared all the necessary documentation.
The plan of payback is to list the Subject Property in the MLS to sell the Single-Family Residence following the completion of all construction work in West Hills, California.