Successful business owners sought a $115,000 Trust Deed cash-out on this beautiful owner occupied SFR in Oceanside, San Diego County, CA. The loan proceeds will be put towards the borrower’s business, JavaTech Pros, which has seen a large increase in growth and demand. They plan purchase larger shop space, hire more employees, and purchase more work vehicles, as well as increase marketing to maximize revenue. The borrower’s $321,000 1st TD is a conventional loan, 30-year term @ 3.125% fixed rate which is current and in good standing. Exit strategy is a conventional refinance.
The subject property is a two story, Contemporary styled SFR in a well-established suburban neighborhood of Oceanside, CA. It is in great condition and features a total of 11 rooms including 5 bedrooms and 3 bathrooms as well as a deck and patio area. The home features an open floor plan and brand-new amenities. The home is 2,398 SF and sits on a large 11,325 SF corner lot. The subject property is very well located, near many family friendly parks, churches, popular golf courses and public/private schools.
What we like about this Trust Deed opportunity:
- Successful business owners
- Popular & Quiet Family friendly Suburban SFR in Oceanside, CA
- Low CLTV: 41.52% / Net CLTV 40.87%
- $614,000 Gross Investor Protective Equity
- 6 Months Guaranteed
- 6 Months Prepaid
$115,000 2nd TD @ 9.50%, SFR, 41.52% CLTV, Cash Out $57,500 Min Investment, Oceanside, CA