CEO/Founder of Sterogene Bioseparations, Inc. https://sterogene.com/company/ a biotech-pharmaceutical company and real estate owner sought a business purpose cash out loan on an owner-occupied SFR in Rancho Santa Fe and an investment rental condominium in Carlsbad, both in San Diego County. The purpose of this blanket loan is to pay off borrowers current and in good standing $900K 2nd TD and the balance to remodel borrower’s other investment property, a commercial building in Carlsbad, San Diego where the borrower runs their biotech operations. Borrower using private money for speed of transaction. Borrower able to service this debt through the income from biotech business. P&L and borrower’s resume in dropbox investor file. The loan offers $2,091,797,184 in net protective investor equity across both properties.
Both 1st TD held by Wells Fargo have low fixed Principal and Interest payments. The current Wells Fargo 1st TD in good standing on Carlsbad property has a principal balance of $248,244 w/ 3.25% fixed rate, $2,727 PI monthly payment, maturing May 2035. And, the current Wells Fargo 1st TD in good standing on Rancho Santa Fe has a principal balance of $836,256 w/ 2.50% fixed rate, $$7,388 PI monthly payment maturing June 2035.
The subject property in Rancho Santa Fe is a single story, Adobe ranch style, SFR + Guesthouse in good condition. This main house features 2,692 SF of living space with a total of 7 rooms, 3 Bed / 2 Bath and the guesthouse features 968 SF living space with 2 Bed / 2 Bath. The property sits on 2.74 acres with a pool that is being new resurfaced, indoor / outdoor fireplaces and nice outdoor entertainment area. The subject has a 3-car attached garage as well as a 3 car driveway. This subject property is very well located near Rancho Santa Fe Country Club, Cardiff and other local beaches, surrounded by similar properties, near shopping, schools and restaurants.
The subject property in Carlsbad is a bi-level contemporary condominium in good condition. This property features 1,040 SF of living space with a total of 5 rooms, 2 Bed and 2 Bath. The kitchen and baths have been upgraded. The property features a private deck/patio and community offers a pool/spa and gym. This property earns $3,000 a mo./rent. This property is very well located just east of the 5 FWY, near Carlsbad beaches, several golf courses, Aviara Hotel and Spa and Omni La Costa Hotel, near local shopping, schools and restaurants.
What we like about this Trust Deed opportunity:
- 712 Medical professional and CEO of a pharmaceutical company
- Two good condition properties in desirable neighborhoods in San Diego County
- Low fixed rate 1st TD mortgages
- 13.50% Investor Yield
- 55.00% CLTV and 53.86% Net CLTV off new value reports
- Condo $3K Rental Income
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
- Net Investor Equity Protection: $2,025,342
