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.