Hard Money Loan Closed in Bakersfield, California

A hard money ‘Purchase’ loan recently closed on a bank owned REO property in Bakersfield, CA. The loan financed the purchase of an investment property for a real estate investor. The property needs repairs estimated at $20,000 and will be made from borrower funds. Upon renovation, the property will be held as a rental.

Here are the loan details:

SFR-ATTACHED
Purchase – Standard
Purpose – Fix & Hold
Loan-to-Value: 55% “AS IS” Value
First Trust Deed
60 Month Term
Principal & Interest Payments
San Bernardino County, CALIFORNIA
PRINCIPAL AMOUNT: $72,000.00

For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 or visit our:

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By G. David Lapin|2018-03-30T07:56:15-07:00January 28th, 2018|Categories: Loan Closings|0 Comments

About the Author: G. David Lapin

G. David Lapin is the president and Broker of Record of HanoverMC, a private money lending and trust deed investment firm located in Orange County, California and is an author and speaker on the topic of private money lending and trust deed investing. Lapin was most recently featured in Robert Irwin’s book “Armchair Real Estate Investor” and hosted his own radio show “The Hard Money Hour”. Lapin's professional career in real estate encompasses 30 years of entrepreneurial experience in both the commercial and residential sectors, bridging property management, development, construction, investment sales and finance including residential mortgage banking and brokerage - originating, processing and closing 5,000 + purchase & refinance transactions, and the underwriting and funding of private money transactions.