Hollywood Hills Flip at 75% Combined LTV
Lone Oak Fund, LLC recently financed the purchase of a 4,000 square foot high end home located in the Hollywood Hills. The Buyer, an experienced real estate investor and flipper, secured a price well below market value, and plans on doing significant renovations before placing it back on the market. Lone Oak Fund financed 65% of the acquisition price, and assisted the Borrower in finding a 2nd TD lender, who brought in an additional 10% leverage. The blended rate of the total loan amount is 8.90%, and the total origination fee was 2.5 points.
Lone Oak Fund allows for junior financing behind our first trust deeds. We can help arrange for a second trust deed if the borrower needs more leverage than we can provide in first position.