Very experienced real estate developer, general contractor and investor sought a 1st TD construction loan on this “Build and Sell” contemporary, SFR investment property in Alpine, San Diego County, CA. The purpose of this loan is to pay off a small and in good standing $126K 1st TD and 100% of the balance of this loan will be placed in “Funds Control”. Borrower has +$300,000 personal “skin in the game” to date. $260k in land acquisition, architectural/structural design, permits, equipment rental, labor costs, grading, water service + borrower is bringing in additional $40,000 to closing towards funds control. Exit strategy from our loan is sale of property immediately upon completion.
The subject property will be a brand new, 2-story, custom contemporary styled SFR in the picturesque foothills of Cuyamaca Mountains, just 30 miles East of downtown San Diego. The subject property will have 6,182 SF of living space and sits on a large 3.68 acres lot. The subject property will consist of 10 total rooms, including 5 bedrooms and 5 1/2 bathrooms, a 4-car garage, several balconies, covered patio and expansive backyard with a modern designed pool and spa. The subject property is well located right off 8 hwy. and nearby many shopping plazas, shops, restaurants, schools, hiking trails and several parks. Photos are architectural renderings of SFR upon completion.
What we like about this Trust Deed opportunity:
- Borrower is an experienced developer, GC & real estate investor
- Borrower has +$300,000 “skin in the game”
- 1st TD at 12.00% Annualized Investor Return on a SFR investment property in San Diego county
- 6 months Guaranteed Interest
- 1 months Prepaid Interest