For the individual trust deed investor who made the $32,000 loan, this fix and flip property had $200-300K of protective equity when the project was completed. Additionally, the borrower had experience flipping houses and this project was a cosmetic flip. A flip that would likely only be held for 3-4 months, so it made a lot of sense to do the small stand alone second mortgage.
Hard Money Second Mortgage Terms:
- $32,500 Loan Amount
- 12-Month Term
- No Prepayment Penalty