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The city of Burbank in Los Angeles County has carved out a niche for itself based on its positioning so close to Hollywood. Internationally, Burbank has earned the well-deserved reputation as “The Media Capital Of The World,” providing land and production facilities for such austere production houses as Walt Disney, Warner Brothers, Nickelodeon Animation and Burbank Studios, to name a few. It doesn’t take much imagination to realize that real estate prices in this movie-making hub have been on elevators up and down, but in the last 6 years the “up” has been explosive – basically doubling. The average residential home is closing in on a value of $1 million. However, like in most movies, the reality is quite different to the fiction: there are thousands of Burbank residents living amidst this opulence that cannot qualify for first or second lien loans. FICO scores, suppressed by very sketchy credit performance before the real estate boom in 2012, rank as the main disqualifying factor.
Private Money Lenders Inc., a premier hard money lender very active in the LA areas, works quite differently. We harness our resources with speed and proficiency to fly past the traditional credit obstacles by finding sure new roads into Burbank’s industrial, commercial, mixed-use and residential real estate opportunities. Our professional agents know how to work with all types of property investing structures outside of individuals in their own name. Indeed, we arrange loans also for partnerships, trusts, corporations, LLCs, estates structures and foreign nationals. A meaningful difference rests in our product range, which stretches further afield than traditional mortgages. Our clients can select from private money loans, bridge loans, long-term private financing and pure investor loans to capture their targeted asset.
the competition is often confused and unable to respond to our focused method of extracting the equity from the property. This one step opens up the contract in such a way that the small print is dealt with quickly and the lowest interest rates imaginable are arranged. Alongside this the redemption terms are surprisingly liberal, thus giving the client a feeling of comfort in most cases. During the process there’s no weighting placed on the loan size: with us a $50,000 loan client ranks the same as a $2 million loan application. All clients get the heralded PML treatment – VIP treatment, in other words.
Have you ever heard of cross-collateralization? Well, it’s an often-used method to close a deal, specifically if the real estate is too thin on equity. It works most of the time so that no client feels left out. We also are very active in assisting businesses to refinance existing loans being pressured by rising interest rates. Our big advantage is that we can execute these with no cash out limits.
So, Burbank investors and the hard money lender Private Money Lenders Inc. are a team playing in the high-stakes game of the city’s real estate markets. Thankfully we have shown the city’s residents a better way to borrow and that the process is not fictional (like the next blockbuster movie). That’s because we run our business with transparency, professional realism, integrity and a high degree of client orientation.
If you’re a Burbank resident in need of a private loan, please contact us at [email protected] or call +1(818)266-8848.
Private Money Lenders transactions are made possible by the special characteristics and requirements of private money lending. Our investors are protected with real estate, which is pledged as security in a trust deed and promissory note.
We are aware that brokers and related businesses may have trouble securing traditional funding options, and occasionally they may not be eligible. Private Money Lenders offers broker funding to such entities as one of the major players in the industry. It is possible to create specialized financing arrangements based on the needs of the broker requesting the financing.
What loan do you need?Hard Money LoanProbate LoanRehab LoanProperty LoanCommercial LoanConstruction Loan