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Investor's Portfolio

Details

Net Investor Yield: 11%
Title: Assignment in Note and Deed of Trust, Tenants In Common
Loan Maturity Date: December 2017
Construction commenced: November 2015
Construction completion: July 2016

Notes

  • Project construction will be approximately 61% complete before Investors money will start to be deployed. This includes $10.2M in federal and state tax credits (New Market Tax Credits) and a $2.5M in nd loan from other sources. Notably, both funding sources are subordinate to Enact Partners Investor funds.
  • Funding Sources Total:$20.2M
  • 12.7M New Market Tax Credits: $10.2M + $2.5M loan (deployed first), in Second Position

Details

Net Investor Yield: 9.25%
Purpose: Refinance existing loan
Property Type: Single Family (Custom)
Loan Amount: $5,500,000
Property Value: $11,000,000
Prepayment: 12 Months of interest paid up front at loan closing
Total LTV: 50%
Loan Term: 12 Months
Prepayment Penalty: 6 Months
Net Return to Investor: 9.25%

Notes

  • Protective equity of $5,500,000
  • Low Loan to Value 50%
  • Borrower has personally invested millions into the project
  • Borrower has had a construction loan with us since Jan. 2015 where he has remained in compliance with all aspects of the loan agreement.
  • Aspen is an affluent and highly desirable market with year-round recreation and is an international tourism draw.
  • Since the 1st year of interest is paid at closing, this represents an opportunity for investors to leverage earned interest (i.e., earn interest on your interest)

Details

Net Investor Yield: 8.5%
Loan Amount: $165,000
Purpose: Business Purpose
Property Type: Condominium (rental property)
Property Value: $250,000
Total LTV: 66%
Loan Term: 24 Months
Minimum Due: 6 Months

Notes

  • Property is a 2 Bedroom, 1 1/2 Bath, 1088 square foot condominium that is well maintained with a premium location being the closest lodging to Snow Summit Ski Resort.
  • The Borrower is a successful wealth manager that resides in San Diego. Borrower has good credit, a clean background check and excellent payment history.

Details

Net Return to Investor: 8.5%
Purpose Business Purpose: Construction
Property Type: Single Family Residential
Loan Amount: $2,775,000
Property Value: $5,128,247
Total LTV (blended): 54%
Loan Term 9 Months
Pre-Paid Interest (paid to Lender(s) at loan closing): 6 Months
Minimum Interest: 6 Months

Notes

  • Experienced San Diego developer, single-family subdivisions in San Diego County, specifically Lemon Grove and the Skyline area of San Diego

Details

Net Return To Investor: 8%
Purpose: Construction - tear down. Build 4 Condominium Units
Property Type: Single Family - develop 4 Condominium Units
Loan Amount: $2,200,000
Property Value: $3,500,000 (After Construction Value)
Prepayment: 9 Months of interest up front (1st partial payment due May 1st, 2017)
Total LTV: 62.86%
Loan Term: 18 Months
Prepayment Penalty: 6 Months

Notes

  • The Point Loma real estate market is a desirable and generally stable market with high demand and low inventory
  • The Borrower/developer is local and has a successful track record
  • Investors receive 9 months of prepaid interest at closing

Details

Net Return to Investor: 7.5%
Property Type: Residential on 40 Acres
Loan Type: Business Purpose Interest Only with Balloon
Intended Use: Residential Subdivision and/or Events Development Opportunity
Loan Amount: $920,000
Property Value: $1,100,000
Additional Collateral Value: $345,000
Borrower also coming in with approx. $220,000 in cash to close this transaction
Total LTV: 63%
Loan Term: 24 Months
Prepayment Penalty: 6 months

Notes

  • We met with the Borrower on Friday 5/6/2016. This loan will give him the financing for this acquisition. He is pledging the Lemon Grove property, which is owned free and clear, as additional collateral. The borrower will be coming in with more than $220,000 in cash to close this transaction. The borrower has excellent credit (FICO up to 798) and a clean background check.

Details

Loan Amount: $850,000
Terms: 24 Months
LTV: 53% (Conservatively)
Investor Yield: 9.0% (net to investors)

Borrower's profile

  • Our Borrower is a major stock holder in a publicly traded company. They obtained financing last year through a Convertible Promissory Note. This type of financing is not what they prefer and they are refinancing out of this loan into our private money / business purpose loan. They are pursuing our loan because they need to refinance out of their current loan and need the funds very quickly which a conventional lender cannot accommodate.

Details

Loan Amount: $100,000
Terms: 24 Months
LTV: $225,000 Appraised
Loan To Value Ratio: 44%
Investor Yield: 8.5%
Balloon: Yes

Notes

  • Single family home on 18.1 acres
  • Property has graded pad for 2nd home
  • 6 months prepaid interest, Non-Refundable

Borrower's profile

  • Borrower owned free and clear
  • Cashout for business purposes

Details

Loan Amount: $160,000
Terms: 24 Months
LTV: $780,000 Appraised
Loan To Value Ratio: 20.5%
Investor Yield: 8.0%
Balloon: Yes

Notes

  • Single family home on 91 acres
  • 6 month prepayment penalty

Borrower's profile

  • Borrower owned free and clear
  • Cash out for business purposes, improving
  • Property to rent as wedding/events venue

Details

Loan Amount: $508,000
Terms: 12 Months
Loan To Value Ratio: 67.73%
Investor Yield: 9.0% (net to investors)

Borrower's profile

  • Borrower is an experienced rehabber
  • Broker has done 10+ similar deals with this same Borrower and has had no issue

Notes

  • 2 bedroom, 2 bath home bungalow style home built in 1922. It is 1,072 sqft on a large 8,999 sqft lot with a one car garage and a separate 2 car garage
  • Additional pad (home site) that sits up sqft by converting the attached garage into living space (the other two car garage will remain), and then sell the property

Details

Loan Amount: $900,000
Terms: 12 Months
Loan To Value Ratio: 69%
Investor Yield: 8.0% (net to investors)

Notes

  • New Construction with existing Guest House & Garage
  • Large Corner Lot

Borrower's profile

  • Borrower is a repeat borrower for us with a proven track record
  • Borrower has several other projects in the area and has successfully completed hundreds of projects

Details

Loan Amount: $900,000
Terms: 24 Months
Loan To Value Ratio: 65%
Investor Yield: 8.0% (net to investors)

Notes

  • Loan to Purchase High end custom renovation Single Family Residential
  • Rebuilt in 2012
  • Features include a state of the art kitchen and saltwater pool

Borrower's profile

  • Borrower is purchasing the residence in Rancho Mirage for $990,000
  • Bringing in $150,000 and the free and clear cross collateralized property
  • Secured by both properties under a blanket Deed of Trust

Details

Loan Amount: $880,000
Terms: 18 Months
Loan To Value Ratio: 77%
Investor Yield: 8.0% (net to investors)

Notes

  • Single family home on 91 acres
  • 6 month prepayment penalty

Borrower's profile

  • Borrower owned free and clear
  • Cash out for business purposes, improving
  • Property to rent as wedding/events venue

Details

Loan Amount: $1,000,000
Terms: 18 Months
Loan To Value Ratio: 65%
Investor Yield: 9.0% (net to investors)

Notes

  • $1,950,000 (Purchase price for all four parcels)
  • Loan to Value Ratio: 50% (Low LTV)

Borrower's profile

  • The borrowers are purchasing the subject property for $1,950,000
  • They will be putting $950,000 cash down

Details

Loan Amount: $3,000,000 total
($1,900,000 hold back dispersed as construction is completed)
Terms: 18 Months
Loan To Value Ratio: 30%
Investor Yield: 9.25% (net to investors)

Notes

  • Protective equity of $7,000,000
  • Borrower has personally invested millions into the project
  • $1.9M of the $3M will be held back to ensure construction is completed Aspen is an affluent and highly desirable market with year-round recreation and is an international tourism draw
  • Since the 1st year of interest is paid at closing, this represents an opportunity for investors to leverage earned interest (i.e., earn interest on your interest) If Borrower pays off within the first nine months the prepayment penalty will be equivalent to three months interest

Details

Loan Amount: 500,000
Terms: 24 Months
Loan To Value: 45%
Investor Yield: 8% (net to investors)

Borrower's profile

  • We personally walked the property, viewed all comps listed in the appraisal and met with the Borrower
  • Borrower's intention: Currently the 1st Mortgage for $330K has come due
  • Refinance new loan and cash-out for business inventory

Notes

  • Property has one single-story masonry building currently used as an auto body shop
  • In total, approx 7,600 sqft of gross building area and net rentable area is also 7,600 sqft
  • The building is operated by the Borrower who has owned the building since 1992 (over 22 years)

Details

Loan Amount: $615,000
Terms: 24 Months
Loan To Value: 69%
Investor Yield: 9% (net to investors)

Notes

  • 1.01 Acre parcel with 2541 sqft. of living area spread over 8 rooms with 3 bedrooms and 2 bathrooms with a full kitchen, 2 living rooms, dining rooms, family room and bonus rooms.

Borrower's profile

  • Borrower is requesting a NEW refinance loan for this large estate property in a great location of La Habra Heights, California
  • The borrower lives locally and is the owner/operator of this non-medical elderly home for the past 5 years with over 20 years' experience in the industry
  • The house makes $13,500 per month from a total of 6 beds

Details

Loan Amount: $652,000 with a $165,000 hold back
Terms: 12 Months
Loan To Value: 62%
Investor Yield: 8.25% (net to investors)

Notes

  • The loan amount of $500,000 represents an After Repair Value (ARV) of 66%.
  • The borrower anticipates construction completion in 2 months

Borrower's profile

  • Repeat Borrower with a proven track record
  • We have provided debt to this borrower for two of his recent projects in neighboring Pasadena and Sierra Madre
  • He has a track record of paying on time and abiding by all the agreed upon terms
  • This borrower has completed hundreds of fix/flip projects and our colleague has known him for 35 years

Details

Loan Amount: $615,000
Terms: 24 Months
Loan To Value: 50%
Investor Yield: 9% (net to investors)

Notes

  • The subject property is a vacant lot.
  • The property is zoned for the intended use and the applicant is finalizing plan approval
  • The project will feature key elements such as natural daylighting, energy efficiency, water conservation, electric cars, and improved indoor air quality

Borrower's profile

  • The Borrower is a Green Home builder who lives locally in Cardiff
  • He has a 30 year track record of successful green building throughout California including condo development, residential, and commercial
  • Coastal downtown Oceanside is a strong market and has seen a tremendous amount of redevelopment.

Details

Loan Amount: $1,040,000
Terms: 24 Months
Loan To Value: 47%
Investor Yield: 7.5% (net to investors)
Additional Security: Total Value of security (collateral) $2,000,000

Notes

  • Highly desirable affluent market.
  • 3,400 square feet, 3 bed/4bath, pool/spa, water features & view
  • Hollywood & Presidential history
  • Opportunity in fix/flip for profit

Borrower's profile

  • Borrower is purchasing the single family home to fix/flip
  • Borrower is pledging, as additional collateral, the commercial property which is owned free and clear of debt

Details

Loan Amount: $620,000
Terms: 24 Months
Loan To Value: 65%
Investor Yield: 8% (net to investors)

Notes

  • Mixed-Use, commercial and residential
  • Approximately 9,350 SqFt
  • 4 marked open spaces & street parking

Borrower's profile

  • Family owned property since 2009 which the Borrowers have emotional and financial ties to
  • Borrower is pledging, as additional collateral, the commercial property which is owned free and clear of debt
  • Intention is to lease out the remaining space to increase the value & net operating income, and then sell it for profit
  • Conscientious and responsive

Details

Loan Amount: $1,280,000
Terms: 12 Months
Loan To Value: 80% (As-Is)
Investor Yield: 8.5% (net to investors)

Notes

  • Property is a 2,800 sqft home on a 21,000 sqft lot
  • Prestigious and very affluent. Awarded the "All American City Award" in 2007

Borrower's profile

  • We have provided debt to this borrower for one of his other recent projects
  • Borrower is pledging, as additional collateral, the commercial property which is owned free and clear of debt
  • He paid on time and abided by all the agreed upon terms. This borrower has completed hundreds of fix/flip projects and are our colleague has known him for 35 years.
  • He is a successful developer with a proven track record.

Details

Loan Amount: $700,000
Terms: 12 Months
Loan To Value: 75%
Investor Yield: 7.5% (net to investors)

Notes

  • Highly desirable affluent market
  • Median price point for the area

Borrower's / Sponsor profile

  • We have worked with on several deals for last two years
  • Hundreds of projects - proven track record
  • Borrower expertise in this submarket
  • Sponsor lives locally (few blocks from Subject property)
  • Borrower is contributing $300K to investment

Details

Loan Amount: $543,750
Terms: 12 Months
Loan To Value: 75%
After Repair Value: 36% $1,500,000 - $1,550,000 Investor Yield: 7.5% (net to investors)

Notes

  • Cottage-style home on a quiet, tree-lined drive in the south-central part of the city
  • After renovation projected $1,525,000 and $1,550,000