A seasoned real estate investor in the High Desert area acquired this Victorville REO using an 80% LTV hard money loan from First Capital Trust Deeds.
The loan was pretty straight forward on this newer construction home built in 2003. This home needed minimal work in order to put it back on the market. We expect that the borrower will be in and out of this property within 4-5 months, turning a quick profit and will be buying another property with the proceeds along with another 80% LTV hard money loan.
80% LTV Hard Money Loan Terms:
- $115,000 Loan Amount (80% LTV)
- 10.99% Interest-Only
- 12-Month Term
- No Prepayment Penalty