Closed! Hard Money Loan in Palm Springs: $400,000 @ 9.500%, 2nd TD, SFR, Cash-Out, 49.60% CLTV

Borrower and experienced real estate investor sought a business purpose 2nd TD to payoff an existing 2nd mortgage and cash-out to upgrade and improve the subject Non-Owner Occupied property to increase its value and appeal. The subject is located on a corner lot in the historic Tennis Club in central Palm Springs in Riverside County,…

Recently Funded Hard Money Loan – Palm Springs: $2,788,300, 1st TD, 50.70% LTV, 10.00% Lender Rate

Real estate investor and long-time auto manufacturer was the majority Tenant at this commercial property.  Borrower joined forces with 2 partners for this purchase opportunity and once the purchase of the subject property was complete, the plans were to supplement the existing auto storage and auto assembly with auto manufacturing at the subject property.   Borrower…