Pacific Private Money just closed a $165,375, 70% LTV loan on an investment acquisition in San Pablo.

The subject property is a 1124 sq. ft. SFR with 3 bedrooms and 2 bathrooms. There is also a small studio in the backyard on this 5200 sf. lot. The borrowers made a cash offer for this purchase at auction.

The borrowers have $110,000 in liquidity and excellent credit (743 and 781 midscores respectively). The subject property was purchased for rental income. The exit strategy is to conventionally refinance.

Conventional lending could not move quick enough. Pacific Private Money sourced private equity and closed this purchase money, investment acquisition in a timely manner.

Author: Mark Hanf

CA. DRE # 01811186 | NMLS No. 331091

Mark is Founder, President, and CEO of the San Francisco Bay Area-based Pacific Private Money Group of companies. Pacific Private Money Inc., the flagship company, is an alternative real estate mortgage lender founded in 2008 to provide consumers and real estate investors access to fast, reliable, and convenient capital.