Just finished underwriting and funding a $500k second TD on two small apartment complexes in West Los Angeles.... The deal features were the following:

1.  Loan to Value was 72% 

2. Rate: 13.000% 

3. DCR: 1.19 

4.  Fully Occupied 

5. Personal Guarantee required 

6. Two year term 

7. No Pre-pay 

8. Loan closed in 30 days, BUT delay was caused by borrower vacation, etc.  

9.  Junior to two first liens of approximately $2mm each

10.  Borrowers credit average 

 I am very interested in looking at:

1.  SECOND TD SCENARIOS up to $1mm 

Medical

Land

Commercial

Storage Facilities 

2.  NOTE PURCHASES

3.  DISTRESSED REAL ESTATE PURCHASES UP TO $5MM 

Please call Massey or write with questions and scenarios. 949-607-8808