Ground-up construction, Los Angeles

Property & underwriting

Occupancy

Non-owner occupied

Units

1

Lien position

Second lien

As-is value

$625,000

LTV (as-is)

60.0%

Purchase price

$537,000

After-repair value

$725,000

Loan-to-ARV

51.7%

Rehab budget

$78,000

Existing liens

$112,000

Exit strategy

Refinance with bank takeout

Borrower experience

2-5 deals completed

Credit score range

750-799

Borrowing entity

Individual

Funding timeline

2-3 weeks

Additional collateral

Retail at Los Angeles, CA

Use of funds

Refinance existing hard money

Deal summary

Acquisition + rehab on a retail in Los Angeles, CA. Borrower is seeking $375,000 at up to 9.22% for 18 months. Sell at completion.