(760) 450-7017

Case Studies

Details

  • Loan Amount:  $8,300,000
  • Purpose:  Land Purchase
  • Property Type:  Residential (Plans to subdivide and sell)
  • Property Value:  $17,980,000
  • Loan to Value:  46%
  • Term:  24 Months

Notes

  • Borrower needs fast and reliable funding to purchase vacant land.
  • 69.8 acres for future residential development, located in Jurupa Valley, California.
  • Borrower is an experienced land developer with decades of experience in this market.
  • Borrower intends to repay the loan after selling the property to a national builder and is already receiving offers in anticipation of the approved entitlements.
  • Borrower has contributed $1.5M+ toward the project.

Details

  • Loan Amount:  $7,500,000
  • Purpose:  Construction
  • Property Type:  Commercial
  • Property Value:  $17,800,000 (At Project Completion)
  • Loan to Value:  LTV will start at approx. 11% and peak at approx. 42% at Project Completion due to Holdback
  • Term:  30 Months

Notes

  • Borrower needs fast funding to complete construction on a large-scale commercial development. Conventional financing is not available due to the project not being stabilized or operational.
  • Upscale concierge-style movie theater, consisting of a 72,889 sq. ft. building on a .8-acre parcel of land in the redevelopment area of downtown Las Vegas.
  • Borrower is an experienced Las Vegas developer and sophisticated financier who has secured over $10M in federal and state new market tax credits.
  • Borrower plans to obtain traditional financing once project is stabilized and showing profit.
  • Funding sources total is $20.2M.
    • $12.7M - New market tax credits 10.2M + $2.5M loan (deployed first, in Second Position).
    • $7.5M - Enact Partners Investors (deployed last, in First Position).
  • Investor funds will be held in fund control account and distributed as construction progress is verified. Construction will be approx. 61% complete before investors’ funds are deployed.

Details

  • Loan Amount: $5,500,000
  • Purpose: Refinance
  • Property Type: Residential
  • Property Value: $11,000,000
  • Loan to Value: 50%
  • Term: 12 Months
 

Notes

  • Borrower needs to refinance out of an existing loan of $3,660,000 that we originated in early 2015.
  • 14,688 sq. ft. luxury custom home on 45 acres overlooking Snowmass ski area. The home consists of a theater, billiards room, wine cellar, exercise room/gym and separate caretaker’s residence.
  • Borrower has had a construction loan with us since 2015 where he has remained in compliance with all aspects of the loan agreement.
  • Borrower plans to sell the property.

Details

  • Loan Amount:  $3,000,000
  • Holdback:  $1,900,000
  • Purpose:  Refinance / Construction
  • Property Type:  Residential
  • Property Value:  $10,000,000
  • Loan to Value:  30% (After Construction)
  • Term:  18 Months

Notes

  • Borrower needs several million dollars for construction financing to complete a luxury estate and is unable to demonstrate income to satisfy traditional lenders.
  • 14,688 sq. ft. luxury custom home on 45 acres overlooking Snowmass ski area. The home consists of a theater, billiards room, wine cellar, exercise room/gym and separate caretaker’s residence.
  • Borrower has personally invested millions into this project.
  • Borrower plans to sell the property.
  • To protect our investment, $1,900,000 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount: $2,775,000
  • Holdback: $2,277,400
  • Purpose: Construction
  • Property Type: Residential
  • Finished Lot Value (Property 1): $1,915,037
  • Finished Lot Value (Property 2): $3,213,210
  • Total Combined Finished Lot Value: $5,128,247
  • Loan to Value (Blended): 54%
  • Term: 9 Months

Notes

  • Borrower needs funding to complete two residential subdivisions (for improvements such as permits/city fees, roads, curbs and graded lots).
  • Lots for two residential subdivisions - a 1.55 acre, 12 lot subdivision and a 12.86 acre, 20 lot subdivision - both located in central San Diego county.
  • Borrower is an experienced developer of single-family subdivisions in San Diego County.
  • Borrower plans to complete subdivision of the properties, after which Enact Partners may consider providing the Borrower with construction financing for the homes.
  • To protect our investment, $2,277,400 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount:  $2,200,000
  • Holdback:  $1,500,000
  • Purpose:  Construction
  • Property Type:  Residential
  • Property Value:  $3,500,000 (at Project Completion)
  • Loan to Value:  63%
  • Term:  18 Months

Notes

  • Borrower needs fast funding for an investment opportunity.
  • Single-family home slated for demolition and improvement with four condominium units. Parcel is 5,000 sq. ft. and each newly constructed unit will be approx. 1,960 sq. ft., 2 bed, 2.25 bath.
  • Borrower is a local developer who has a successful track record of residential building projects.
  • Borrower plans to build and sell four condo units.
  • To protect our investment, $1,500,000 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount:  $1,900,000
  • Purpose:  Purchase
  • Property Type:  Commercial
  • Property Value (Property 1):  $1,820,000
  • Property Value (Additional Collateral):  $1,200,000
  • Total Value:  $3,020,000
  • Loan to Value:  63%
  • Term:  24 Months

Notes

  • Borrower needs fast funding for a below-market purchase opportunity.
  • 2.03 acre, 88,427 sq. ft. commercial / industrial property. The lot has been improved with three buildings totaling 38,765 sq. ft. of leasable area.
  • Repeat borrower with a flawless payment history.
  • Borrower plans to refinance out of our loan within 24 months.

Details

  • Loan Amount: $1,320,000
  • Holdback: $425,000
  • Purpose: Purchase (Fix and Flip)
  • Property Type: Residential
  • AS IS Property Value: $1,300,000
  • After Repair Property Value: $2,600,000
  • AS IS Loan to Value: 68.8%
  • After Repair Loan to Value: 50.7%
  • Term: 18 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity.
  • Single-family home in a desirable coastal community, with dramatic 180 degree views of the Pacific Ocean.
  • Borrower is an experienced fix and flip developer who focuses exclusively on this market and has an extensive track record of similar projects in the area.
  • Borrower plans to add value by completing a second story addition and a modern style renovation of the property.
  • Borrower is providing down payment of $425,000.
  • To protect our investment, $425,000 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount: $1,280,000
  • Holdback: $400,000
  • Purpose: Purchase (Fix and Flip)
  • Property Type: Residential
  • AS IS Property Value: $1,100,000
  • After Repair Property Value: $2,000,000
  • AS IS Loan to Value: 80%
  • After Repair Loan to Value: 64%
  • Term: 12 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity, which could not be obtained through conventional financing.
  • 2,800 sq. ft. home on a 21,000 sq. ft. lot, located in the affluent city of Sierra Madre.
  • Borrower is a successful developer who has completed hundreds of fix/flip projects.
  • Borrower expects the remodel and sale of the property to be completed within 24 months.
  • Borrower has approx. $220,000 invested in this project.
  • To protect our investment, $400,000 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount:  $1,040,000
  • Purpose:  Purchase (Fix and Flip)
  • Property Type:  Residential
  • Property Value (Property 1):  $1,000,000
  • Property Value (Additional Collateral):  $1,200,000
  • Total Value:  $2,200,000
  • Loan to Value:  47%
  • Term:  24 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity.
  • 3 bed, 4 bath, 3,400 sq. ft. home on 1/3-acre parcel, with pool, spa and beautiful mountain views in a highly desirable affluent market.
  • Repeat borrower with a proven track record and expertise in this submarket.
  • Borrower plans to fix and flip the home for profit.

Details

  • Loan Amount:  $1,000,000
  • Purpose: Land Purchase / Land Development
  • Property Type:  Residential
  • Property Value:  $1,950,000
  • Loan to Value:  51%
  • Term:  18 Months%

Notes

  • Borrower needs fast funding to purchase vacant land for a residential development.
  • Recently subdivided 4.27-acre subdivision consisting of four separate parcels. Each parcel will be a home site for a custom residence in the 3,500 sq. ft. range. Finished homes on these sites expect to sell for in excess of $2,600,000.
  • Borrower providing down payment of $950,000.
  • Borrower plans to complete subdivision, land entitlements, and sell to local builder(s).

Details

  • Loan Amount: $920,000
  • Loan Amount:  $920,000
  • Purpose:  Purchase
  • Property Type:  Residential
  • Property Value (Property 1):  $1,100,000
  • Property Value (Additional Collateral):  $345,000
  • Total Value:  $1,445,000
  • Loan to Value:  63%
  • Term:  24 Months

Notes

  • Borrower needs fast funding for a property development opportunity.
  • 40 Acres of flat usable land which creates a development opportunity. Property currently includes a 5 bed, 3 bath, 3,493 sq. ft. home, barn, creek, pond and greenhouses.
  • Borrower has excellent credit and is providing down payment of $220,000.
  • Borrower has plans and is investigating a few options.

Details

  • Loan Amount:  $900,000
  • Purpose:  Purchase
  • Property Type:  Residential
  • Property Value (Property 1):  $995,000
  • Property Value (Additional Collateral):  $395,000
  • Total Value:  $1,390,000
  • Loan to Value:  65%
  • Term:  24 Month

Notes

  • Traditional financing isn't an option for this Borrower due to the volatile/seasonal cash flow inherent in her business.
  • 4 bed, 4.5 bath high-end custom renovated home, with state of the art kitchen, saltwater pool and mountain views.
  • Borrower owns a successful high-end art gallery and is purchasing the home to host events and showcase her artwork.
  • Borrower plans on paying off the Note in full or refinancing.
  • Borrower is providing down payment of $150,000 to close escrow.

Details

  • Loan Amount:  $900,000
  • Holdback:  $165,000
  • Purpose:  Refinance / Construction
  • Property Type:  Residential
  • Property Value:  $1,300,000
  • Loan to Value:  69% (AS IS)
  • Term:  12 Months

Notes

  • Borrower needs fast funding for a new construction opportunity.
  • Large corner lot with existing guest house and garage, located in the "gateway" to Hollywood. Original home on the lot has been removed and a new custom home will be built.
  • Repeat Borrower with a proven track record who has successfully completed hundreds of similar projects.
  • Borrower has multiple exit strategies (i.e. sell as is condition, build to sell, sell per specs and plans).
  • To protect our investment, $165,000 will be held in a fund control account and will be released periodically as construction progresses. This provides additional protection and reduces initial LTV down to a low 57%.

Details

  • Loan Amount:  $880,000
  • Purpose:  Purchase (Fix and Flip)
  • Property Type:  Residential
  • AS IS Property Value:  $1,150,000
  • After Repair Property Value:  $2,400,000
  • AS IS Loan to Value:  77%
  • After Repair Loan to Value:  36%
  • Term:  18 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity.
  • Residence located in a prestigious neighborhood, surrounded by multi-million dollar homes, with mountain views.
  • Repeat borrower with a proven track record and expertise in this submarket.
  • Borrower plans to renovate the property, add 1,500 sq. ft. of living space, and sell the home for an expected sales price of $2,400,000.
  • Borrower is contributing approx. $250,000 to close and will put approx. $450,000 into renovation cost.

Details

  • Loan Amount:  $850,000
  • Purpose:  Refinance
  • Property Type:  Residential
  • Property Value:  $1,600,000
  • Loan to Value:  53%
  • Term: 24 Months

Notes

  • Borrower needs to refinance out of current loan and needs funds quickly to invest in his business, which a conventional lender cannot accommodate.
  • Condominium penthouse located in East Village, just blocks from Petco Park, with 180 degree views of the San Diego Harbor and downtown. Highly upgraded with no expense spared.
  • Borrower is a successful entrepreneur.
  • Borrower plans on paying off the Note in full or refinancing.

Details

  • Loan Amount: $835,000
  • Purpose: Refinance / Land Development
  • Property Type: Residential (Plans to subdivide and sell)
  • Property Value: $1,400,000
  • Loan to Value: 60%
  • Term: 24 Months

Notes

  • Borrower needs fast funding in order to pay off a first mortgage with a conventional lender and pay off real estate taxes, with additional proceeds going toward land development cost.
  • 7.19 acre lot with a 3,000 sq. ft. home, additional 1,000 sq. ft. detached guest quarters/office, barn and horse facilities.
  • Borrower is an experienced land developer.
  • Borrower plans to increase the value of the property by subdividing the lot, then will sell to local builder(s).

Details

  • Loan Amount:  $720,000
  • Purpose:  Land Purchase
  • Property Type:  Residential
  • Property Value:  $1,425,000
  • Loan to Value:  51%
  • Term:  12 Months

Notes

  • Borrower needs fast funding to purchase vacant land for a residential development.
  • Vacant land containing three 11,000 sq. ft. residential lots ready for construction of single family homes. Solid infill neighborhood with high demand.
  • Borrower is an experienced builder who has completed projects in this neighborhood. Financially strong and experienced.
  • Borrower plans to refinance out of our loan with a construction loan.
  • Borrower is providing down payment of $735,000 to close escrow.

Details

  • Loan Amount:  $700,000
  • Purpose:  Purchase (Fix and Flip)
  • Property Type:  Residential
  • AS IS Property Value:  $925,000
  • After Repair Property Value:  $1,250,000
  • AS IS Loan to Value:  75%
  • After Repair Loan to Value:  56%
  • Term:  12 Months

Notes

  • 3 bed, 2 bath home on a 11,200+ sq. ft. lot in desirable location/ neighborhood.
  • Borrower has expertise in this submarket.
  • Borrower plans to renovate the property and sell it for an expected sales price of $1,250,000.
  • Borrower is contributing $300,000 to this investment.

Details

  • Loan Amount:  $620,000
  • Purpose:  Refinance
  • Property Type:  Mixed Use, Commercial and Residential
  • AS IS Property Value:  $950,000
  • After Repair Property Value:  $1,220,000
  • AS IS Loan to Value:  65%
  • After Repair Loan to Value:  51%
  • Term:  24 Months

Notes

  • Borrower needs to refinance out of current loan.
  • 10,650 sq. ft. of mixed use land (commercial and residential) land with three buildings totaling 9,350 sq. ft. of office/retail space.
  • Borrower is conscientious and responsive, and family has owned property since 2009.
  • Borrower plans is to lease out remaining space to increase the value & net operating income, then sell for profit.

Details

  • Loan Amount:  $615,000
  • Purpose:  Land Purchase
  • Property Type: Land – Mixed Use
  • Property Value:  $1,230,000
  • Loan to Value:  50%
  • Term:  24 Months

Notes

  • Borrower has struggled to obtain conventional financing to purchase land for development.
  • Coastal vacant lot which is zoned for mixed use (commercial and residential).
  • Borrower is a Green Home builder who lives locally and has a proven track record.
  • Borrower plans to build a ten-unit Eco-village/ condo development with two retail units, and will refinance out of our purchase loan with a construction loan.

Details

  • Loan Amount:  $615,000
  • Purpose:  Refinance
  • Property Type:  Residential
  • Property Value:  $880,000
  • Loan to Value:  69%
  • Term:  24 Months

Notes

  • Borrower needs to refinance out of current loan.
  • 1.01 acre parcel with 2541 sq. ft. of living area, 3 bed, 2 bath, full kitchen, 2 living rooms, dining rooms, family room, bonus rooms, and large open patio area.
  • Borrower 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.
  • Borrower plans to refinance out of our loan.

Details

  • Loan Amount:  $543,750
  • Purpose:  Purchase (Fix and Flip)
  • Property Type:  Residential
  • AS IS Property Value:  $725,000
  • After Repair Property Value:  $1,500,000
  • AS IS Loan to Value:  75%
  • After Repair Loan to Value:  36%
  • Term:  12 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity.
  • Home located near Sierra Madre village, with hardwood floors, covered deck, and mountain views.
  • Borrower has a proven track record and expertise in this submarket.
  • Borrower plans to renovate the property, add 1,500 sq. ft., and sell the home for an expected sales price of $1,500,000-$1,600,000.

Details

  • Loan Amount:  $508,000
  • Holdback:  $200,000
  • Purpose:  Purchase (Fix and Flip)
  • Property Type:  Residential
  • Property Value:  $750,000
  • Loan to Value:  68%
  • Term:  12 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity.
  • 2 bed, 2 bath bungalow style home on a large 8,999 sq. ft. lot in a desirable Pasadena neighborhood.
  • Borrower is experienced and has an excellent track record.
  • Borrower plans to do a complete rehab, increase the size of the home, and then sell the property.
  • To protect our investment, $200,000 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount:  $500,000
  • Purpose:  Refinance
  • Property Type:  Industrial
  • Property Value:  $1,100,000
  • Loan to Value:  45%
  • Term:  24 Months

Notes

  • Borrower is in the process of rebuilding his credit and needs funds for business inventory and to recapitalize his business.
  • Industrial building currently being used as an auto body shop, with 7,600 sq. ft. of net rentable area.
  • Borrower operates the business and has owned the building for close to 25 years.
  • Borrower is going through the process of increasing his eligibility for conventional financing and plans to refinance out of our loan.

Details

  • Loan Amount:  $500,000
  • Holdback:  $165,000
  • Purpose:  Purchase (Fix and Flip)
  • Property Type:  Residential
  • AS IS Property Value:  $750,000
  • After Repair Property Value:  $1,050,000
  • AS IS Loan to Value:  66%
  • After Repair Loan to Value:  48%
  • Term:  12 Months

Notes

  • Borrower needs fast funding for a fix and flip opportunity.
  • 3 bed, 3 bath home situated on a 4,548 sq. ft. lot, located in a highly desirable market.
  • Repeat Borrower with a proven track record who is an experienced developer/ fix and flip expert.
  • Borrower plans to renovate the property and sell it for an expected sales price of $1,050,000.
  • To protect our investment, $165,000 will be held in a fund control account and will be released periodically as construction progresses.

Details

  • Loan Amount: $289,000
  • Purpose: Refinance
  • Property Type: Residential – Rental Property
  • Property Value: $410,000
  • Loan to Value: 70%
  • Term: 24 Months
 

Notes

  • Borrower needs to refinance out of current loan and needs additional funds to improve property in order to maximize rental income.
  • 1,053 sq. ft. home with a detached studio in a strong rental market. Currently rents to $2,495 per month to a long-term tenant.
  • Borrower is self-employed as a roofing contractor and owns rental property.
  • Borrower plans to improve the property and will either sell or refinance within the next 24 months.

Details

  • Loan Amount:  $248,000
  • Purpose:  Refinance
  • Property Type:  Residential – Rental Property
  • Property Value:  $360,000
  • Loan to Value:  68%
  • Term:  24 Months

Notes

  • Borrower needs funding to pay a current note that has come due with a conventional lender, and is using the remainder of the funds for a business mentorship program.
  • 2,132 sq. ft. house on a 9,180 sq. ft. lot, which currently rents for $2,250 per month.
  • Borrower is a business owner and licensed Real Estate Broker.
  • Borrower plans to sell the property within the next 24 months.

Details

  • Loan Amount: $165,000
  • Purpose: Refinance
  • Property Type: Residential – Rental Property
  • Property Value: $250,000
  • Loan to Value: 66%
  • Term: 24 Months

Notes

  • Borrower is unable to obtain conventional financing due to the owner occupancy ratio, which does not meet conventional lenders’ guidelines.
  • 2 bed, 1.5 bath, 1088 sq. ft. condominium that is well maintained with a premium location being the closest lodging to Snow Summit Ski Resort.
  • Borrower has good credit, a clean background check and excellent payment history.
  • Borrower plans on paying off the Note in full.

Details

  • Loan Amount:  $160,000
  • Purpose:  Refinance
  • Property Type:  Residential
  • Property Value:  $780,000
  • Loan to Value:  20%
  • Term:  24 Months

Notes

  • Borrower needs to refinance out of current loan and needs funds to add a stage, gazebo and theatre area that will serve as an outdoor wedding venue.
  • 91 acre parcel with a 4 bed, 2.5 bath house that has 2,520 sq. ft. of living area, and large open patio, decks, covered porch, and barn.
  • Borrower can’t get conventional funding due to limited credit history.
  • Borrower plans to pay off the loan in full.