Borrower and real estate investor sought a business purpose cash-out 2nd TD on this non-owner occupied single family residence in Hayward, Alameda County, CA. The borrower is a very successful and experienced Fix & Flipper/Renter. She currently owns 4 income generating investment properties and in just the past 4 years she has successfully Fix & Flipped 4 other properties for strong profit. Schedule of Real Estate in investor DropBox. The recent storms did some minimal cosmetic damage to two of her other investment properties so our loan proceeds will be used to fix those and upgrade the others.
The subject property is a single family residence that consists of 1,929 SF and sits on a large 13,939 SF lot. It is comprised of 8 total rooms including 3 bedrooms, 2.5 bathrooms and a detached 2-car garage. It features large front and back yards and a very nice patio area with lots of plants and trees. The subject is located in a quiet and safe suburban neighborhood only a couple miles from the San Francisco Bay. Total Rental income is $4,345/month. Exit strategy from our loan is a conventional refinance.
What we like about this Trust Deed opportunity:
- Non-owner Occupied Income Producing Investment Property
- Very successful and Experienced Real Estate Investor
- 11.50% Annualized Return
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
- $4,345/month rental income