The borrower was seeking a $600,000 Orange County private money loan.
They acquired the subject property in 2010 for $750,000 and invested another $100,000 in upgrades.
The subject property is owned free-and-clear and has a market value in the $1.0 million range.
The last sale in this building for a smaller unit which was not remodeled, sold for $955,000 in May 2017.
The borrower used the funds to take advantage of another real estate opportunity.
The borrower is strong with good credit and a repeat client of Crescent Lenders.
With decades of experience in California hard money loans, Crescent Lenders is well positioned to provide the right financing for your complicated project.
Whether you're an investor in Irvine looking to capitalize on a hot deal, or an individual in Anaheim who needs some extra cash to fix up their place; we can help.
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