Long Beach Hard Money Loan

This borrower flips about 10-15 properties per month, all of which are remodeled and sold for a profit. 

The owner has been in this business for over 25 years. 

This subject property located in Long Beach is a 2 bedroom, 1 bathroom home with 1,116 sq. ft. 

The total projected cost of this project was $574,000 which included acquisition, remodel and interest expenses.

The $94,000 2nd position hard money loan was behind a new 1st position hard money loan for $480,000. 

The $94,000 will be used for servicing the 1st position private money loan, remodeling expenses and for 10% of the purchase price. 

No monthly interest payments were made by the borrower, instead the interest on this 2nd position private money loan accrued and once the property sells, the principal balance will be paid in full.

$94,000
Amount
6 Months
Length
115
LTV
20.0
Rate
Purchase Financing
Type
Residential
Single-Family Home
Exit Strategy
Sell the property

Looking for a Long Beach Hard Money Lender?

Do you know of a cheap or distressed property worth renovating in the Seal Beach area? Or are you looking to buy a condo in Torrance but are struggling to obtain financing? 

Let Crescent Lenders take care of it!

Get information about our hard money loan programs here.

We Can Deliver Rapid Financing

Between $200k and $5 million dollars

Nationwide private lender (not a broker, avoid the extra fees)

Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges and cash-out

All types of investment properties considered, residential, commercial and industrial



Crescent Lenders

2999 Overland Ave, Suite 116
Los Angeles, California
Phone
213-474-3131
  • California
  • Los Angeles
  • San Diego
  • San Francisco

Disclaimer: Crescent Lenders, DBA CrescentLenders.com ("CL") is a California licensed broker under California Bureau of Real Estate License No. #01792267. Regardless of this license, CL considers itself a “finder” for purposes of applicable laws and regulations (California Business & Professions Code § 10130, et. seq.).

Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064