Trust Deed Lending
Looking for a Bridge or a Trust Deed loan? Call us!
We prefer terms of less than 2 or 3 years. If a residence, we will only do non-owner-occupied properties. When looking at commercial, office, or retail space, We will consider only rented properties where the existing rents fully support all expenses. If properties do not support the expenditures, we will consider taking cross collateral on other properties owned by the Borrower. We will also look at apartment rentals in non-rent-controlled jurisdictions. Our target Loan to Value ratio is 50% to 70%, and our target rate is 12%. If there is cross collateral, we will consider a higher Loan to Value.
Depending on the individual transaction, all terms are negotiable! We only lend on Non-Fractionalized loans where we are in the first position (cross collateral can be in the second position).
We do not loan on raw land, leased land, entitled land, single-purpose buildings (e.g. bowling alleys or churches, schools ), new construction (but specialize in remodels or flips), or any retail space where there are potentially Toxic issues e. g. Dry Cleaners, Chemical plants, or any Automotive care where oil, additives, or similar, has been stored or used.
We are usually able to respond to general proposals within 24 hours telling you of our interest and once in receipt of sufficient information. (e. g. an appraisal, preliminary title, signed application & credit report) We will set up a viewing within 48 hours. Our viewings usually take 20/30 minutes. We will generally give you a firm response the following morning. Our Closing costs typically consist of only a $50 wire fee. Our wires are sent directly to the Title Company.