Brentwood Fix and Flip
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|
|Collateral:||1,791 square foot Spanish style SFR on a 6,271 square foot lot|
|Rate:||8.30% interest only|
|Origination Fee:||2.00 points|