| Borrower: needed money for land which they intended to subdivide and needed a land loan until their plans were approved by the city and state at which time a bank will fund their subdivision improvement loan. (20-acres north Scottsdale)
Borrower: A mobile home park owner in west Phoenix needed money for another of their businesses and to pay off a balloon note. They wanted a 2nd mortgage because they had a small first of less than $100,000.00 at 7% interest and didn't want to lose it. Our private money investors arranged a 10-year fully amortizing 2nd note and trust deed.
Borrower: A small mobile home developer needed the money to buy a double wide mobile home, put in a well, water tank and utilities. They will pay off the loan in 6 months and liked the fact that our loans have no prepay penalty after 6 months.
Owner of Note and Deed of trust needed to sell same and raise money: The Customer/Seller had sold off a 40-acre tract of land in two parcels to different parties on 10-year terms. Two years later the Seller needed money to take advantage of a business opportunity. We sold his note and deed of trust and generated $40,000.00 within 10 days to meet his investment opportunity needs.
One of our customers had a chance to buy a retail strip shopping center which was owned by some government entity, which had acquired it during the saving and loan crisis. Our customer said, the property with some remodeling and leasing up would have a value increase of 3 times what they were paying. We generated private money for their purchase. Two years later fully leased up we had the pleasure of placing a long-term institutional commercial loan on this property at a very low interest rate. The property value was three times what they paid for it.
Miscellaneous Examples:
Paradise Valley improved home lot, Loan amt. $200,000
A clean metal recycler in south Phoenix. Land and improvements,
Loan amt. $135,000
1,135 acres of grazing land with a small spring in Navajo County,
Loan amt. $50,000
40-acres of land in path of growth in Show Low, Loan amt. $100,000
5-acres retirement home site east of Tucson, Loan amt. $25,000
320-acres irrigated farm land west Phoenix, Loan amt. $135,000
120-acres west Phoenix for sub divider while they find improvement loan, which was too big for our private moneylender, Loan amt. $125,000
1,650-acres plus Phoenix metro land in the path of growth, Loan amt. $1,200,000.
Tip: Its better to miss an opportunity because you didn't have the time to do due diligence than to make a deal because you didn't take the time for due diligence.
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