Successful long-time business owners sought a business purpose cash-out 2nd TD on this owner occupied SFR in the beautiful Pacific Palisades in Los Angeles county. The funds from our loan will be utilized for capital investment into their law practice, Pacific Legacy Law. Over the past year, the practice has gotten significantly busier and a need for expansion has come. Borrowers will be employing at least three additional attorneys, two paralegals and two legal secretary’s to handle the increased volume. Along with this, the loan funds will be used to take on larger office space, hiring professional and auxiliary staff, leasing/purchasing additional office equipment and improving cash flow by taking on more estate planning and non-contingent litigation matters.
The subject property is a custom built, two story traditional style home sitting on a very large 19,856 SF lot with gorgeous views of Catalina Island and the Pacific Ocean. The home is 4,724 SF with 11 total rooms including 5 bedrooms and 3.5 bathrooms along with an attached 3-car garage. The subject is in between both Getty museums, adjectet to Temescal Canyon Park, less than a mile from PCH and Will Rogers State Beach and conveniently located to schools, shopping, restaurants, recreation and medical facilities. The 1st TD is held by Chase Bank at 3.00%. The exit strategy for this loan is to sell the business once it has reached its peak and retire. Proceeds from the loan will comfortable pay for this loan along with the 1st TD and set his family up for the rest of their lives.
What we like about this Trust Deed opportunity:
- Pacific Palisades, LA County location
- Longtime successful Business Owners
- 10.00% annualized return
- 6 months Guaranteed Interest
- Strong business plan with secure exit strategy
