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Crescent Lenders Funds

$100K 2nd Position Hard Money Rehab Loan

Bolye Heights, Los Angeles

About The Deal

The borrower was seeking a $100,000 2nd position hard money loan to finish improvements on a multi-family apartment complex they are fix and flipping in Los Angeles, California.

The $100,000 will be repaid through the sale of the fix and flip or via a refinance loan. 

There is an existing 1st position private money loan with Crescent Lenders that was arranged in September 2018.  

The combined loan-to-value of the first position and second position hard money loans is under 65% and the subject property has a current market value over $1,000,000.

The collateral property is located in a strong rental demand area – Boyle Heights (just 10 minutes east of downtown Los Angeles). 

There are a total of five 2-bedroom, 1-bathroom units which produce gross monthly rents of $6,300. 

The borrower is an experienced real estate investor and has been a real estate broker for 25 years. 

Crescent Lenders has provided previous financing to this borrower and the payment history has been very satisfactory which encouraged us to make this loan.

5-Unit Multi-Family Apartment Complex in Boyle Heights, Los Angeles
Amount
$100,000
Location
Bolye Heights, Los Angeles
Rate
13.0%
LTV
65.0%
Term
12 months
Type
Fix and Flip
Residential
Multi-Family Home
Exit Strategy
Sell or Refinance

Looking for a Fix and Flip Loan Near Bolye Heights?

Crescent Lenders is a top rated private money lending company providing loans in and around The Los Angeles area.

We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.

When traditional bank loans are not an option for your Long Beach fix-and-flip project or when you need a probate loan for an inherited property in Torrance, look no further than Crescent Lenders, a private money lender with a proven track record of success in providing alternative financing solutions for various real estate investments.

Learn more about our Los Angeles fix and flip loans.

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Email
info@crescentlenders.com
Phone
213-474-3131
Send Us A Message
We Can Deliver Rapid Financing
Between $200k and $2 million dollars
Nationwide private lender (not a broker, avoid the extra fees)
Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges, cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders

Suite #116, 999 Overland Ave

Los Angeles, California

90064

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.).