The borrower requested a $1.4 million hard money loan to purchase a 5 bedroom, 3 bathroom single-family residence with 3,510 sq. ft. in Berkeley, California.
The purchase price was $2.1 million and the buyer put down $700,000 plus closing costs.
Once small improvements are made, the property will be staged and resold.
The borrower expects to have this property resold and the loan paid off within 3-4 months.
The subject property is located near The UC Berkeley campus and is therefore in a fantastic rental market.
The most recent tenants of the home were UC Berkeley students.
Our borrower is a repeat client and has proven to have a keen ability to buy and resell properties for a profit.
Did you find the perfect location for an assisted living facility in San Francisco or perhaps you need to refinance a bridge loan coming due in San Jose, whatever the case, Crescent Lenders will prove why we are the best private money lenders in California.
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