Trust & Estate Needs: Mom and/or Dad pass away leaving a trust. They have multiple children, but only one is appointed as the trustee. The banks won’t make a loan to the trust, but Preston is able to arrange financing so that the beneficiaries can monetize their inheritance.
Hard Money Lending: He is able to source financing when beneficiaries need cash or for other real estate-related purposes by utilizing any of the following resources: financial officers at Family Offices who represent high net worth individuals, a sophisticated investor at a corporate debt fund, insurance company, pension fund, or directly with high net worth individuals or their trusted advisors.
Seismic Retrofit Ordinance #93: When the City of Los Angeles passed the seismic retrofit ordinance in July 2015, property owners and managers had no choice but to seek financing to make these required upgrades. At other times, property owners, commercial and residential, have needed to get cash out of their property, or wanted to make additional repairs to their buildings or to invest in other properties. In each of these scenarios, Preston has arranged financing that offers low rates and long-term financing to address their needs.
Individual Client in Debt: A client came to Preston owing a large debt to the IRS, Franchise Tax Board and the County of LA Assessor. As he was not able to repay that debt, multiple liens were attached to his property. After being turned down by several banks, the property owner contacted Preston, who was able to put together financing to repay the debt owed to each of the taxing authorities. This infusion of financing gave the borrower a fresh start and put an end to his penalties.
A Hospital Turnaround Specialty acquired a property worth $12 MM from a healthcare entity and needed to cash out that property to make additional investments. Preston was able to arrange financing through his long-term, trusted relationships with debt funds for a quick – turnaround, high – dollar cash out with little to no prepayment penalties.