Nov 08, 2017
I have a couple new deals with them. One is a high end home in Hollywood Hills and another is a home being built in Montecito (Santa Barbara). Both are new to me. I believe there is plenty of Equity in Hollywood Hills and I am a sucker for seeing someone build properties. Also believe there is equity there.
Patch of Land issues? Poor Communication. I go to the CEO and CIO to resolve any issues now.
Also saw a deal where POL had investors fund a rehab/flip then wanted to write a new loan with a new batch of investors until the house could be sold. They had some BS appraisal tied to it as the property was listed substantially below the appraisal. I questioned it and they stated they don't question the appraiser as that is their job..