$625,000, Purchase, 2 SFR Investment Properties

San Diego, CA. September 2018An existing client of The Loan Company was negotiating the purchase of two single-family detached investment properties. The borrower needed to close within one week, so the timing was critical to getting the deal done.

The purchase price was $835,000 for both houses on two separate lots. The Loan Company moved fast and provided a $625,000 loan or 75% of the purchase price and met the deadline. The borrower will remodel the two houses adding considerable value to the property.

The exit strategy is to sell or refinance the property upon completion of the remodel. The Loan Company provided the borrower with an excellent short-term bridge loan at a competitive private money rate and terms.

$700,000, Refinance, R/E Investment Properties

Escondido/Imperial Beach, CA. September 2018 An experienced real estate investor was looking to access the equity in existing real estate owned. Instead of the owner having to sell existing properties to access the cash, The Loan Company provided a line of credit to allow the borrower to access cash when needed at a moment’s notice for other investment opportunities.

The loan was a refinance bridge loan for $700,000 commitment secured by a 1st Trust Deed on a single family residence on 2.5 acres and a 2nd Trust Deed on two residential single-family detached units (front and back) in Imperial Beach. The combined LTV ratio including all debt was a conservative 64% LTV.

The exit strategy is to sell or refinance the investment properties purchased with the subject loan proceeds. The Loan Company provided the borrower with an excellent short-term bridge loan used as a line of credit at a competitive private money rate and terms.

$740,000, Purchase, SFR Investment Property

El Cajon, CA. August 2018.

A real estate investor was in a competitive bidding situation and needed to write in the purchase contract a short escrow in order to make her offer stand out. Needing a reputable private lender that can move quickly, the borrower’s mortgage broker referred her to The Loan Company to help facilitate a fast close on the purchase of a residential investment property.

The borrower’s offer was accepted and The Loan Company was able to provide a $740,000 1st Trust Deed loan secured by a non-owner occupied single family residence with a below market purchase price of $1,035,000 or 71% loan-to-purchase price. The borrower will be able to make cosmetic upgrades to the home and resell the property at a profit within 6 months. The Loan Company provided the borrower an excellent bridge loan at a competitive private money rate and terms.

$1,080,000, Purchase, Retail

A buyer was in escrow to purchase an investment property that included a two tenant, stand alone retail building within a small strip center anchored by a Ross Dress for Less store and a Chili’s restaurant. The borrower needed to close within 30 days and needed a lender to move fast with no hassle.

The purchase price was $1,830,000. The Loan Company provided a $1,080,000 loan or 59% of the purchase price. The property is 100% leased and easily services the debt.

The Loan Company provided the borrower with an excellent term bridge loan at a competitive private money rate and terms.

$560,000, Purchase, Office

Escondido, CA. August 2018.

A repeat borrower was interested in purchasing a multi-tenant office building and with a short escrow, knew first hand that he could rely on The Loan Company to provide quick financing in order to meet the purchase opportunity deadline.

The Loan Company provided a $560,000 1st Trust Deed bridge loan secured by two investment properties for a combined 64% LTV ratio. The subject office building has sufficient rental income to service the debt.

The exit strategy is to make cosmetic changes to the property, bring rents to market, then refinance with a conventional lender. The Loan Company provided the borrower an excellent short-term bridge loan at a competitive private money rate and terms.

$850,000, Refinance, Commercial

San Diego, CA. June 2018.

Two real estate developers wanted to tap the equity in two of their investment properties in the Barrio Logan Community of San Diego. They needed a lender that could move fast to refinance providing cash-out so they could meet a purchase opportunity deadline.

The Loan Company provided an $850,000 1st Trust Deed bridge loan secured by two investment properties for a combined 40% LTV ratio. The borrowers have the capacity to service the debt.

 The source of repayment will be either refinance with a conventional lender or the sale of one of the properties. The Loan Company provided the borrower a timely bridge loan at competitive private money rate and terms.

$650,000, Purchase, Restaurant

San Ysidro, CA. June 2018.

A real estate investor instead of selling a commercial property to access cash equity, The Loan Company helped the borrower refinance the property and pull cash out to purchase another business opportunity.

The subject collateral included two fully leased detached buildings comprised of a mixed-use commercial building with an owner-occupied retail liquor store, office space and a stand-alone fast food Mexican restaurant.

The $650,000 refinance loan is secured by a 1st Trust Deed on the subject property at a conservative 55% LTV ratio.  The Loan Company provided the borrower with an excellent short-term bridge loan at a competitive private money rate and terms.

$450,000, Refinance, Commercial

National City, CA. June 2018.

A local real estate investor and repeat Loan Company borrower needed a creative lender to refinance existing debt and provide funds to remodel several older investment properties.

The Loan Company provided a $450,000 1st Trust Deed bridge loan secured by three investment properties at a 50% LTV ratio. The three properties easily service the debt, and with the sale of one property the loan will be paid off.

 The Loan Company provided the borrower a timely bridge loan at competitive private money rate and terms.

$1,950,000, Construction, 3 SFR’s

 San Diego, CA. June 2018An experienced developer/general contractor purchased a vacant residential lot well under market value in the community of Hillcrest. The borrower subsequently entitled the property to build three high-end residential townhomes, creating substantial added value to the lot.

When the borrower inquired about getting a construction loan from a bank, the bank would not give the borrower credit for the added land value created by the entitlements over and above the initial cost. This resulted in the bank requiring more cash down and a lower loan commitment.

 However, The Loan Company’s common-sense approach to underwriting recognized the real value added to the property and provided a 1st Trust Deed $1,950,000 construction loan resulting in a 71% loan to cost and 53% LTV ratio.

The borrower will repay the loan with the sale of the homes. The Loan Company provided the borrower a timely construction loan at competitive private money rate and terms.

$3,050,000, Construction, 10 SFR’s

 Santee, CA. May 2018An experienced local developer/general contractor needed a lender that could move fast in providing a construction loan for a ten home subdivision in Santee.

The Loan Company provided a 1st Trust Deed $3,050,000 construction loan for ten, detached single family homes for entry-level buyers. The borrower contributed the land free and clear with a 73% loan to cost and 57% LTV ratio.

The borrower will repay the loan with the sale of the homes. The Loan Company provided the borrower a timely construction loan at competitive private money rate and terms.