The Borrower is acquiring the 1911 sq. ft. 4 bed, 3 bath property in La Puente, California for $492,000.
La Puente is a small city located in Los Angeles County.
The Borrower sold two properties resulting in a combined net proceeds of $2.0 million.
Through the use of a 1031 exchange, the borrower has been reinvesting the proceeds into various purchases of single-family homes across the Southern California area.
Some of the acquired properties are being fixed and flipped for profit while other properties are being rehabbed and held onto for rental income.
For the subject property, the borrower is putting 32% down, bringing the total hard money loan amount to $335,000.
The loan-to-value comes in at 68% which fits our hard money lending criteria.
The buyer plans to renovate the property, lease it to a new tenant and then refinance the home into a low cost conventional bank loan.
Are you in the market for a private money loan for an assisted living facility in Santa Monica or maybe you need a fix and flip loan for an undervalued apartment in Manhattan Beach — whatever the situation, as the premier hard money lenders in Los Angeles, we have your back!
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