$1,900,000 ---was this a first then?---pear ranch
$225,000 combo loan for fix and flip
Ran out of money
$650,000 bare land zoned commercial near major hwy
LLC borrower had been developing an 8 acres parcel for several years. The value plummeted yet they had over $1,200,000 invested. The LLC needed to buy out three partners to keep them from causing legal difficulties and continue the zoning process which was nearly complete. Found a private party to fund the loan.