Hard Money Loan Closed in Menifee, California

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Hard Money Loan Closed in Menifee, California

A hard money ‘Cash-out’ loan recently closed on three manufactured units in Menifee, CA. The loan provided funds to retire an existing ballooning note and install Seismic Pier systems on three (3) single-story detached manufactured style SFR’s. The units will be held as rentals.

Here are the loan details:

Residential Manufactured SFR’s
Cash-out
Purpose – Retire Maturing First & Tiedown/Foundation Systems
Loan-to-Value – 53% “AS IS” Value
First Trust Deed
60 Month Term
Principal & Interest Payments
Riverside County, CALIFORNIA
PRINCIPAL AMOUNT: $175,000.00

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

Hard Money Loan E-Book │ Frequently Asked Questions

By G. David Lapin| 2018-04-25T09:34:26+00:00 April 7th, 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.