Recently Funded Hard Money Loan in Los Angeles: $1,860,000 @ 12.00%, 1st TD, Single Family Residence, Cash-Out, 60.00% LTV
Borrower shows substantial cash reserves and net worth to service debt who is the Owner and Founder of “Vista Paint”. Borrower and his business partner, owner of commercial real estate company in Rancho Mirage, both placing personal guarantees on this loan. Loan Purpose: investment into Coachella Valley large development project. Exit plan: pay off this…