5 Units in the heart of Palm Springs
Loan Amount: $244,750(1st) / $44,500(2nd) Rate: 8.75%(1st) / 12.00%(2nd) Appraisal Value: $445,000 Term: 36 months Lien Position: First This borrower plans to rehab the units as they become available and possibly convert 1 or 2 into vacation rentals. Since he would...
7 day 1031 exchange
Loan Amount: $489,000 Rate: 8.50% Purchase Price: $825,000 Term: 6 months Lien Position: First Our borrower is an experienced fix and flip investor. The property is in great condition, it was just dated. With updating throughout, the property will increase in value...
1031 Exchange for Investment Property with acreage
Loan Amount: $100,000 Rate: 8.49% Appraisal Value: $375,000 Term: 12 months Lien Position: First This was another borrower who was under a tight deadline to close before the 1031 deadline was reached. The loan request was received on a Thursday and the loan funded the...
2nd lien on our existing 1st
Loan Amount: $225,000.00 Rate: 11.00% Appraisal Value: $525,000.00 & $900,000.00 Term: 18 months Lien Position: Second The rare instance that we made a second lien loan is when we have the first. In this case, our borrower needed $225,000 and had ample equity,...
