Luxury Private Money Financing For Venice Project

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Luxury Private Money Financing For Venice Project

First Capital Trust Deeds secured a luxury private money financing loan at 75% LTV acquisition + 75% LTV rehab for a project in Venice, California two blocks away from the beach.

Like some of our other luxury acquisition and renovation loans that have closed, the qualifying process was relatively simple for the sponsor:

  1. Real Estate Resume – Successfully Completed Projects
  2. Cost Breakdown and Estimated Schedule of Completion
  3. Lender Site Inspection – Walk Through with Borrower
  4. Quick 15-day Closing

In this case, the borrowers needed financing for at least 18 months in order to complete the full renovation of the property, which would go from a Mediterranean style to a two story modern home with full outdoor rooftop living.

Luxury Private Money Financing Terms:

  • $1,350,000 Rehab Loan – 75% of Rehab Budget
  • 11.00% Interest-Only
  • 18-Month Term
Do you have a similar financing scenario?
Inquire about your financing options with FCTD.