First Capital Trust Deeds completed the 78% LTV Riverside hard money purchase loan for a fix and flip real estate investor looking to close within one week.
This was the epitome of hard money lending. The purchase price was 10-15% of the as-is value. The buyer needed to close within one week and had a 25%+ down payment and $25,000 in rehab funds. They expected this to be a quick flip within 3-4 months. The trust deed investor from Los Angeles met the buyer at the property for a quick 5-minute walkthrough and the loan docs were ready the same day.
These types of hard money loans are simple and easy. They don’t always come this way, but every once in a while it’s nice to get one of these loans that closes quickly at a reasonable Loan-To-Value (LTV) with an experienced buyer as the borrower.
78% LTV Riverside Hard Money Loan Terms:
- $215,000 Loan Amount
- 11.0000% Interest-Only
- 12-Month Term
- No Prepayment Penalty