Real estate investors were seeking a 1st Trust Deed to purchase this Seal Beach SFR as an investment property with the intent to continue the rehab of the property and then either sell the property or conventionally refinance as a rental property once the rehab is complete. The Borrowers entered into a Lease Option Agreement with the Seller in Oct. 2018 and have been paying a $6,500/mo. lease payment to the Seller during this lease/option period. The borrowers live and work in Big Bear, CA and are experienced real estate investors. The borrowers currently have $350k in Escrow as a part of their down payment and will be receiving an unsecured loan from the borrowers Father for the $500k balance needed for the Down Payment. The Lease Option to Buy expires at the end of Nov. 2019 which is creating the urgency and necessity for this Private Money Loan.
Recent Transaction: $967,000 Business Purpose, Seal Beach, CA 90740
