San Diego, CA. December 2018. 

A reputable broker referred a real estate investor to The Loan Company who had the opportunity to purchase four residential units comprised of 3 studios on the first floor and a single studio unit on the second floor of a 1,850 sq. ft. building. The borrower needed to close quickly and could not risk delaying escrow with a conventional lender.

The purchase price was $900,000. The Loan Company provided a 1st Trust Deed loan commitment of $675,000 or 75% of the purchase price. The property was being professionally managed and generated gross monthly rental income of $6,600/mo.

The exit strategy is to refinance with a conventional lender within 12 months. The Loan Company provided the borrower an excellent short-term bridge loan at a competitive private money rate and terms.

San Diego, CA. December 2018.

A new borrower referred to The Loan Company from a reputable broker had the opportunity to purchase a detached single family residence investment property, which would add to his growing portfolio of short term rental properties.

The borrower wanted to utilize equity in his other investment properties to minimize the cash down payment on the acquisition. The purchase needed to close within two weeks of getting the offer accepted.

The purchase price was $1,100,000. The Loan Company provided a 1st Trust Deed loan commitment of $880,000 or 80% of the purchase price. The loan was secured by a 1st Trust Deed on the subject property and secured by another income producing property with sufficient equity for an overall 69% combined loan to value ratio.

The exit strategy is to remodel the property, season rents for 6 months, 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.

San Diego, CA. November 2018.

 An existing client of The Loan Company was presented with an opportunity to purchase a single-family detached investment property, which was a pocket listing. The borrower needed to close within two weeks, so the timing was critical to getting the deal done.

The purchase price was $875,000. The Loan Company moved fast and closed with an initial disbursement of $656,000 or 75% of the purchase price and met the deadline. The Loan Company also held back $159,000 for improvements to be made, which will be disbursed as a percentage of completion for a total loan commitment of $815,000. The borrower will remodel the home adding considerable value to the property, which has an ARV of $1,250,000 or 65% LTV.

Chula Vista, CA. January 2019. 

Needing to close within a week, a real estate investor and repeat borrower of The Loan Company had an opportunity to purchase a corner lot, single family residence investment property. Plans are to remodel the subject property.

The purchase price was $400,000. The Loan Company provided a $300,000 loan or 75% of the purchase price. The borrower will be providing the capital for improvements to be made.

The exit strategy is to sell the property upon completion of the improvements. In a matter of days of being contacted, The Loan Company provided the borrower with an excellent short-term bridge loan at a competitive private money rate and terms.