A San Francisco real estate investor uses a Private Money Loan For 1031 Exchange purposes with financing secured by Peer-To-Peer Trust Deeds of Walnut Creek.
A real estate investor in San Francisco successfully closed on a beautiful duplex in the city by taking out a private money loan for a 1031 Exchange. The loan went pretty smoothly because the investor was putting 50% down on the property, had excellent credit and income, and the home was immaculate. Additionally for the trust deed investor, it was an ideal lending opportunity to commit to since the borrower and property were both very strong.
Private money lending is filled with many highly qualified borrowers like this one who for one reason or another cannot obtain bank financing. It’s interesting for us to see the variety of situations that lead borrowers toward a private money loan, whether it’s less than two years of self-employment or unique income streams that don’t fit within the conventional mortgage underwriting box. No matter what the situation, there are some excellent borrowers that make for great loans for trust deed investors to fund.
Private Money Loan For 1031 Exchange:
- $850,000 Loan Amount (50% LTV)
- 6.99% (Year 1) and 7.99% (Year 2) Interest-Only
- 24-Month Term
- No Prepayment Penalty