Featured LoanCOVID-19: Multi-Property Hard Money Second Mortgage in Orange County
Loan Amount: $1,600,000
Loan-To-Value: 80% of Purchase
First Capital Trust Deeds worked with an investor buying a $2,000,000 commercial building in Orange County during the COVID-19 pandemic with zero money down by using three free and clear investment properties as additional collateral to close the acquisition.
The seller of the subject property agreed to carry a $500,000 first trust deed for two years. FCTD worked with a group of three Orange County-based trust deed investors to structure a $1,600,000, 24-month second trust deed spread across the subject property in second position while going into first position across that previously free and clear industrial, retail, and residential rental properties.
Even though the buyers were moving forward during COVID-19, FCTD was able to put the financing together with trust deed investors who were still and continue to be funding private money loans. One of the advantages FCTD has with our large database of trust deed investors and lenders, is that we can put together uniquely structured loans like this one where we have local investors familiar with the properties who can meet the borrower to do a site inspection within a couple of hours.