Streit Lending

About Streit Lending

Streit Lending is a Van Nuys, CA based private money lender who provides loans throughout California. They provide construction loans, hard money loans for commercial properties, short term bridge loans, and fix-and-flip loans. They provide rates starting at 7.9% , terms between 1 year and 2 years, and loan amounts ranging from $300,000 to $5,000,000 with a maximum LTV of 70%. They provide loans on the following types of properties: single family homes, multi-family units, apartments, office buildings, retail units, hotels/motels, storage facilities, assisted living communities, mixed use, warehouse spaces, industrial facilities, and medical buildings.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical

Areas Served: CA

Licenses: Real Estate Broker, California Bureau of Real Estate. License number 01918594

Lending Guidelines for Streit Lending

Below are the general loan guidelines published on the Streit Lending website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Streit Lending.

Loan Example 1

Jeanne is an investor in Los Angeles, CA. She discovers a run-down property and wants to remodel it and flip it for a profit. The property has a cost of $260,000 but she does not have the full amount so she takes out a hard money loan with Streit Lending. The terms of the note include a 60% loan to value (LTV), so she must bring 40% of the price as cash to closing, which makes the principle loan amount $156,000. The note is interest-only, with monthly payments, and is for 12 months at 11% interest with 5 origination points paid when the deal closes.

In addition to paying the $7,800 origination fee, Jeanne will also have to fund $104,000 of the purchase with her own money, or 40% of the purchase price. The lender will collect $1,430 in monthly interest from the borrower. This is calculated by taking the total note value of $156,000, multiplying by the 11% interest rate, and then dividing that number by 12. If Jeanne sells the house for $325,000 after 12 months, she would make a total profit of $40,040 after subtracting the principle amount of $156,000, the cash contributed at the close of $104,000, the origination points of $7,800, and the total interest payments of $17,160. This amount does not include building costs.

Loan Example 2

Roberto finds a duplex in Los Angeles, CA to renovate and sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Streit Lending with the following parameters:

$350,000 purchase price
80% loan to value (LTV)
12 month term
10% rate of interest
4% origination fee

If Roberto achieves his goal of a $437,500 sales price, the numbers of the deal would be the following:

$437,500 sales price
- $280,000 note principle (80% LTV)
- $70,000 cash paid at closing (20% on 80% LTV)
- $11,200 origination fee (4% of the $280,000 principle amount)
- $28,000 total interest paid (12 months x 10% interest)
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= $48,300 total profit (doesn't include taxes or renovation costs)

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