Los Angeles Fix & Flip
Lone Oak Fund financed the acquisition of a single family residence in the Mid-City neighborhood of Los Angeles. The Borrower, a repeat client of Lone Oak, leveraged this acquisition at 65% of the purchase price. Once he completes the rehab of this home, he will place it back on the market for sale. There is no prepayment penalty on the loan, so the Borrower can pay off the first trust deed as soon as the property sells.
|Transaction:||Acquisition; Fix & Flip|
|Rate:||8.60% interest only|
|Origination Fee:||2.0 points|