Southern CA Hard Money Lenders for Real Estate Investors
Here is a list of hard money lenders for residential and commercial real estate in Southern California - LA, OC, SD, Inland Empire, and other areas. Hard money loans are a great short-term solution for SoCal property investors who either don’t qualify for a traditional mortgage or just need to close a deal fast. Most hard money loans are 12 months, but some lenders offer a longer term.
In May 2014, the Wilshire Quinn Income Fund financed a $3.1M hard money loan for a single family home fix & flip project in the Hollywood Hills above the Sunset Strip. The loan included funds for the acquisition and construction. Proceeds of the loan were placed in a fund control and then disbursed during the course of the project. The Borrower plans to remodel the entire home and sell upon completion. It was appraised for $5,750,000 so the LTV of this loan was 54%.
Hard Money Loan for Santa Monica Home Purchase & Rehab
In August 2013, the Wilshire Quinn Income Fund financed a $2.8M hard money loan for a single family home in Santa Monica. The loan included the acquisition of the property and construction costs. The Borrower is an experienced real estate investor, he plans to rehab and resell the property upon completion. We secured a 1st trust deed on the home and also cross collateralized with another home in Santa Monica and 40 acres of entitled land in Riverside County. The properties were appraised collectively for $7.5M so the LTV of this loan was 37%.