Done Deal! Hard Money Loan in Los Angeles: $1,303,000 @ 13.25%, 2nd TD, Cash-Out, SFR, 60.00% CLTV
1. Loan Purpose: Real estate investors sought a 2nd Trust Deed on this non-owner-occupied property in, Hancock Park, Los Angeles. Borrowers purchased the property in 2020 and paid $375k on Down Payment and have spent $874k to date on the horizontal and vertical development. The borrowers own a family-owned and operated Real Estate Development firm,…
