Recent Commercial Transaction in Rosamond: $1,000,000 @ 11.25%, Cash-Out, 2nd TD, 63.73% CLTV
Investor with a large real estate portfolio sought a business purpose cash out 2nd TD on this non-owner occupied mobile home park investment property in Rosamond, Kern County, CA. The purpose of these funds is to acquire another investment property related to a 1031 Exchange. Exit strategy from this loan is a conventional refinance to…