Long Beach, CA

$450,000

Single Family Residence

Residential Rehab

07/15/2015
Transaction by
Wilshire Quinn Capital, Inc.
In July 2015, Wilshire Quinn Capital funded a $450K private money refinance loan secured by a vacant single family home in Long Beach, California. The proceeds from the loan are being used to complete a minor rehab on the property. The property consists of more than 2,100 square feet with 4 bedrooms, 2 baths, on a 9,000 square foot lot. The property was appraised for $825,000 so the loan-to-value is 55% LTV. We paid off the previous lender and provided the equity cash out funds just 4 days after the initial request. The Borrower plans to rent the home and a bank refinance will pay off this 1st trust deed private mortgage.