25 years + very experienced licensed general contractor, real estate investor and home developer throughout the San Diego County area sought a 1st Trust Deed to build an investment SFR in Spring Valley, San Diego County, CA; 13 miles east of downtown San Diego. As soon as complete, the borrower will sell property for profit and pay off this construction loan.

Borrower purchased lot with own cash for $160K and additionally invested $125K skin in game towards soft costs, engineering, architectural, permits, taxes as well as start-up hard costs: site is fully graded, and tree removal completed. All permits in place, ready to build. Mortgage Vintage had an independent 3rd party conduct a Construction Feasibility Report that confirmed the Funds Control from this loan will complete the SFR development based of a new After Completion Appraisal value of $825,000.

The subject property will be a two story, modern style, SFR with 1,794 living SF sitting on a large 7,841 SF lot. The subject property is surrounded by similar SFRs in a nice San Diego suburban neighborhood with a skyline view of downtown San Diego and water view of the nearby Sweetwater Reservoir. The SFR will consist of a total of 7 rooms, 4 Bed and 3 Bath. The SFR will feature a wraparound front and back deck. The subject property is near several shopping plazas, restaurants, schools, parks, the 125 and 54 state hwys. Images are renderings of SFR future build design.

What we like about this Trust Deed opportunity:

  • 25+ years very experienced real estate investor, developer
  • SFR in suburban neighborhood of San Diego with skyline views
  • 13.50% Investor Yield
  • LTV:  60.00% / Net LTV 53.25%, 72% LTC
  • $330,000 Gross Investor Protective Equity – new Appraisal
  • 6 Months Guaranteed
  • 6 Months Prepaid
  • Funds Control & Approved Feasibility Report

$495,000 1st TD @ 12.50%, 60.00% LTV, Const., SFR, $49,500, Min Inv., Spring Valley, CA