Crescent Lenders recently financed the purchase of a $4 million tow truck yard for a repeat borrower.
The borrower owns a tow yard in Fullerton free and clear with an appraised value of $1.5 million and would like to cash-out $900,000 on the property.
Crescent Lenders will assume 1st position for $800,000 while a different lender will take a 2nd position on the property at $100,000.
Funds will be used by the borrower to purchase an additional tow yard in Costa Mesa which is located in Orange County.
The tow yard in Costa Mesa is being purchased for $4 million, the $900,000 hard money loan will be for the down payment.
After 18 months, they borrower plans to refinance into a traditional bank loan to help increase his cash flow.
Crescent Lenders has a long standing relationship with this borrower and have successfully funded multiple deals for him across Southern California.
His outstanding character, strong credit and years of experience in his industry made this an easy loan to fund.
Whether you are funding a fix and flip in Los Feliz or a drive thru in Costa Mesa, Crescent Lenders has you covered.
We fund all types of private money loans across Orange County and the Southern California region, not just tow yards.
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, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064