Los Feliz Single-Family Fix-and-Flip Loan

We recently took a $2.1 million 1st position hard money on a rehab project in Los Feliz, California.

The subject property was a 3,751 sq. ft. home situated on a 21,566 sq. ft. lot. 

The house has 4 bedrooms, 3.5 bathrooms, a studio apartment over the garage and a pool.

The property was purchased in 2018 for $2.3 million and the borrower made approximately $400,000 worth of upgrades and repairs in an attempt to fix and flip the property.

The borrower listed the property for $3.9 million but was unable to get any offers.  

The homeowner had a $2.6 million private money loan with another lender that was reaching its maturity date.

We required the borrower to inject $500,000 of additional funds into the property to increase his equity position.

The sale price of the property was recently reduced to $3.4 million.

Our estimation was the property would sell within the next 6 months for between $3.1 to $3.3 million. 

Our $2.1 million private money loan, puts the LTV at around 65%.

This loan was attractive to us because of the property’s great location, the new condition of the home and the borrower being a repeat client with a strong track record.

$2,100,000
Amount
12 Months
Length
65
LTV
9.00
Rate
Refinance
Type
Residential
Single-Family Home
Exit Strategy

Need a Los Angeles Hard Money Lender?

Crescent Lenders is the most trusted California hard money lender by commercial and residential real estate investors.

Whether you need a probate loan to buy out your siblings for an inherited property in Long Beach or would like to refinance a hard money loan for an office building in Hollywood, our knowledgeable and experienced team can assist you with all your hard money loan needs.

Get in touch with us today!

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
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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