Blog - Pacific Private Money
Fix & Flip Purchase in Mill Valley!
Pacific Private Money just closed a $563,000, 75% LTV loan on a fix and flip purchase in Mill Valley.The subject property is 1,239 sq. ft. SFR on a 8,276 sq. ft. lot in a desirable neighborhood of Mill Valley. Marin County’s real estate market continues to see rising prices while inventory remains limited. The borrower has…
Purchase Property With Cross Collateralized Property!
Pacific Private Money recently funded a 365K, 34% loan to combined value, purchase with cross collateral of a 2nd property.The purchased property is a 3 bedroom, 3.5 bathroom SFR with a purchase price of 355K, but has a value of 475K. The cross collateralized property is located in Richmond and is valued at 370K and…
44% LTV, Owner-occupied purcahse in Sacramento County!
Pacific Private Money recently funded a 44%LTV, owner-occupied purchase in the town of Penryn in Sacramento County.The subject property is a 3.4 acre property with 2 detached SFRs that were built in 2010. Both residences have been recently upgraded and the property also includes a workshop and swimming pool. Zoning allows for a third structure…
We just closed a commercial lot purchase in downtown Alameda…
Pacific Private Money just closed a $536,250 loan amount, 65% LTV, Purchase of commercial lot suitable for development in downtown Alameda.The subject property is a single parcel on the major thoroughfare Webster Street in an urban/ suburban area of Alameda (0.34 corner, 110f ft. X 133 ft., rectangular shaped). It has a zoning designation of…
PPM Closed a Short Sale Purchase that did not qualify for conventional financing…
Pacific Private Money recently funded a $350,000 loan for a Short Sale Purchase in Union City. The market value LTV was 55% and the purchase price LTV was 71%. Along with the good LTV the borrower had a strong income and stable employment. The borrower had a credit Mid FICO of 642. Her credit did…
Fund Performance Report 6/30/14
For the fiscal year ending June 30, 2014, the fund has paid the following returns: For income investors who are taking monthly distributions, the fund has paid a yield averaging 8.22%. For growth investors, the cumulative compounded yield since July 2013 is 8.54%. The fund portfolio is comprised of 85% residential property loans and 15%…
70% LTV 2nd on a duplex rental in Greenbrae
Pacific Private Money recently funded a 70%LTV, 2nd on a duplex rental in Greenbrae. The duplex has 2 units totaling 2,841 sq. ft. of living space with a 2/2 unit and 2/1.5 unit on 13,200 sq. ft. lot. The current rents total $5,500 per mo…nth. The borrower has good credit (Fico mid-score of 692) and…
We just funded a $1,165,000 21-unit apartment building purchase!
Pacific Private Money recently funded a 75%LTV, 21-unit apartment building purchase in Richmond.The property is well situated near transportation and other amenities and is in an area seeing high current demand for rentals. At market rents, this property should value at or near $2 million. Recent upgrades to the property include hardwood flooring throughout. The…
PPM just closed a 52% LTV on a purchase bridge loan in Danville!
Pacific Private Money just closed a $375,000, 52% LTV on a short term purchase bridge loan.The primary applicant has been working in advertising for 14 years, 10 with the same company. He faced a recent dip in earnings, but is back on track now. He and his spouse have both added additional part time work…
Owner-Occupied Bridge Loan in San Jose
Pacific Private Money recently funded a $575,000, 57.503% LTV on an owner occupied bridge loan in San Jose. Due to a complicated income situation and the need for speed, conventional financing was not an option for the borrower. However, Pacific Private Money recognized multiple strengths of the transaction, including; strong LTV, good reserves, and great…