Closed! Hard Money Loan in Los Angeles: $365,000 @ 12.50%, 2nd TD, Cash-Out, Single Family Residence, 60.00% CLTV

Business owners sought a $365,000 business purpose 2nd Trust Deed loan on this owner-occupied single-family residence in Los Angeles, Los Angeles County, CA.  Loan proceeds will be used for Borrower’s business, Powerfade Marketing, LLC (https://powerfademarketing.com).  A Powerfade P&L for 2023 is in the CTD Due Diligence File and shows a company Net Income of $405k.…

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Recent Hard Money Transaction in Perris: $325,000 @ 12.00%, 1st TD, Cash-Out, Funds Control, Single Family Residence, 48.15% LTV

Borrowers/realtor sought a 1st TD business purpose cash out loan to remodel this “free and clear”, non-owner-occupied investment SFR property in Perris, Riverside County, CA. Funds will be placed into Funds Control to fully remodel this SFR; project managed by a licensed General Contractor. Exit strategy: conventional refinance once complete. The subject property is a single…

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