The borrower works as a building inspector supervisor for the State of California and therefore has good working knowledge of the construction business.
He had all necessary permits and his cousin, who is in the remodel and fix and flip business, is managing the project.
Upon purchase, the property was a 2-bedroom and 1-bathroom, 910 sq. ft. home.
The borrower added 391 sq. ft. to the existing structure and a new garage with a 375 sq. ft. studio.
After the expansion, with the additional square footage and studio, the property will be marketed at a sales price of around $1.0 million.
The property is located in a good area of Los Angeles (adjacent South Pasadena and Alhambra).
The borrower’s good credit and knowledge combined with a great property location made this an attractive bridge loan to fund.
Crescent Lenders is a top rated private money lending company providing loans around The Orange County area.
We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.
Whether you need a bridge loan to acquire a commercial property in Laguna Beach or require financing to purchase a high-end home in Newport Coast, Crescent Lenders is here to help you with all your private money loan needs in Orange County's most exclusive neighborhoods.
Our expertise extends to providing tailored solutions for a wide range of property types throughout the region, including the affluent communities of Dana Point and San Juan Capistrano. Trust us to work closely with you to secure the right financing for your unique real estate needs in this prestigious part of Southern California.
Ready to take action and secure the funding you need? We can fund your private money loan in Orange County.
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