Closed! Hard Money Loan in San Diego: $255,000 @ 12.00%, 2nd TD, Cash-Out, Multi-Family Unit, 51.04% CLTV
1. Loan Purpose: Borrower and real estate investor sought a $255,000 2nd Trust Deed business purpose cash out loan on this non-owner-occupied fully tenant-occupied tri-plex in San Diego. The loan proceeds will be used to complete a 2-unit ADU. The complete project is $449,000 to build. The Borrower has already paid $237,000 in costs towards…