Location:King City, CA Funded:$165,000 Private Loan Type:Distressed Property Loan
Fire damaged property
Unable to secure traditional financing due to its condition
Needed additional funds for rehab
We financed the purchase of a badly fire damaged single-family residence by a contractor that we have worked with for many years. We had to close escrow within 10 days. HCS Equity did their own site visit and confirmed that value and permits were in place for rebuilding. We financed the purchase with a distressed property loan then provided additional capital during rehab. The project was completed within the prescribed time frame and the home was resold.
Property Type – Single-Family
Lien Position – First Mortgage
Loan-to-Value – 65%
Loan Term – 12 months
More Deals by HCS Equity
HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property.
Loans to Irrevocable Trust Loan Location:Hollister, CA Funded:$313,000 Private Loan Type:Irrevocable Trust Loan Deal Highlights: The court appointed that the trustee needed funds to cover care costs for conservatee
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