This self-employed borrower is a Realtor that completely gutted and renovated this property and had just listed it for sale when she approached us for a loan. The property was free-and-clear, and she needed $1,100,000 cash-out to purchase another property. Due to a value near $2,500,000, the likely listing period of six months allowed the borrower to be comfortable with a six-month guaranty of interest. Sequoia overcame issues with mechanic’s liens and the short-term nature of the request and made this loan at 8.99% with a very modest two point fee. The referring broker charged 1.75 points.