Single Family Residence(SFR) property located in Beverly Hills,CA 90210 - acquired 14 years ago.
1. Seeking Lender for $600k operational/construction funding for 12-18 months. Fast Close.
2. Property Appraised 2014 at $3.4M
3. First at $1.2M. 30% Debt To Equity
4. Keep 1st Loan in place (3.5%), and Lender does 2nd as /Construction/ loan or L/C. Might consider Refi/Cashout depending on rates.
5. Seeking Lender for $600k for 12-18 months. Fast Close. - Very Low Risk - Short Term
6. Funds are to build Second Residence on adjacent lot - This will increase the value of the underlying asset by $3.5 to $4.1M. Funds also used for operational and to subdivide existing lot.
7. Another $5.0M Construction Financing in 12 months will be required for these 2 projects. (Total ARV - $15M)