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Crescent Lenders Funds

$2.1M 1st Position Fix and Flip Loan

Los Feliz, Los Angeles

About The Deal

We recently took a $2.1 million 1st position hard money on a fix and flip project in Los Feliz, Los Angeles.

The subject property was a 3,751 sq. ft. home situated on a 21,566 sq. ft. lot. 

The house has 4 bedrooms, 3.5 bathrooms, a studio apartment over the garage and a swimming pool.

The property was purchased in 2018 for $2.3 million and the borrower made approximately $400,000 worth of upgrades and repairs in an attempt to fix and flip the property.

The borrower listed the property for $3.9 million but was unable to get any offers.  

The homeowner had a $2.6 million private money loan with another lender that was reaching its maturity date.

We required the borrower to inject $500,000 of additional funds into the property to increase his equity position.

The sale price of the property was recently reduced to $3.4 million.

Our estimation was the property would sell within the next 6 months for between $3.1 to $3.3 million. 

Our $2.1 million private money loan, puts the LTV at around 65%.

This loan was attractive to us because of the property’s great location, the new condition of the home and the borrower being a repeat client with a strong track record.

Single-Family Property in Los Feliz, Los Angeles County
Los Feliz, Los Angeles
12 months
Fix and Flip
Single-Family Home
Exit Strategy
Sell the property

Looking for a Fix and Flip Loan Near Los Feliz?

Crescent Lenders is a top rated private money lending company providing loans around The Los Angeles area.

We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.

Whether you need a probate loan to buy out your siblings for an inherited property in Long Beach or would like to refinance a hard money loan for an office building in Hollywood, our knowledgeable and experienced team can assist you with all your hard money loan needs.

Come see why we are the leading fix and flip lender in Los Angeles.

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We Can Deliver Rapid Financing
Between $200k and $5 million dollars
Nationwide private lender (not a broker, avoid the extra fees)
Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges, cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders

Suite #116, 999 Overland Ave

Los Angeles, California


Disclaimer: Crescent Lenders, DBA CrescentLenders.com ("CL") is a California licensed broker under California Bureau of Real Estate License No. #01792267. Regardless of this license, CL considers itself a “finder” for purposes of applicable laws and regulations (California Business & Professions Code § 10130, et. seq.).