The borrower acquired the subject property in late 2017 for $1,250,000.
This borrower is very active in the Los Angeles real estate market and performs over 50 home fix-and-flips per year.
With over 25 years of experience in the home renovation business, this company has a vast network of brokers and banks to help them acquire properties at wholesale prices.
Approximately $350,000 was invested in the remodel/upgrade of the home.
The owner was leasing the property however the tenant has not worked out.
Consequently the owner/borrower has decided to list the property for sale – listing price approximately $1,500,000.
The borrower’s existing bridge loan was coming due and Crescent Lenders was able to refinance the borrower expiring loan to hold them over until the sale of the home is completed.
If you have found a home in Pasadena to purchase, need to get cash out of commercial property in Santa Clarita or would like to refinance an expiring hard money loan in Long Beach, all your California private money needs can be solved by Crescent Lenders.
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, 90064