Brentwood Fix and Flip

 In RECENT TRANSACTIONS

Brentwood

Lone Oak Fund LLC financed the acquisition of a 1920’s single family residence in Brentwood, securing a first trust deed loan in the amount of $1,027,000. Lone Oak provided 65% of the purchase price, for 13 months, 8.3% interest only, and 2 points. The borrower, an experienced real estate investor and repeat client of Lone Oak, plans to secure a 2nd trust deed construction loan to renovate the home and resell it for profit.

As always, there is no prepayment penalty

Transaction:Acquisition; Fix & Flip
Purchase Price:$1,580,000
Loan Amount:$1,027,000
LTV:65%
Collateral:1,791 square foot Spanish style SFR on a 6,271 square foot lot
Term:13 months
Rate:8.30% interest only
Origination Fee:2.00 points
Prepayment Penalty:None

 

 

 

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