The borrower sought a 1st TD purchase loan for this SFR Non-Owner Occupied investment property in Temecula, CA.
The subject property, known as the “The Big G Ranch”, is a historic Western ranch style SFR, sitting behind the “Cross Creek” golf course in the picturesque wine country of Temecula. The subject property features 5,100 SF of rentable living space and rests on a large 5 acres lot containing oak trees and a fresh running stream. Between 2019 – 2020 the subject property and grounds were fully restored to an 1830’s style western ranch motif. In 2021, the subject property opened up to hospitality as an Airbnb private retreat, B&B, wedding venue, film location and has earned $100,279 from January to date (proof of deposits from Airbnb, VRBO and special events in investor Dropbox file).
The subject property has 10 rooms, 4 Bed/BA and features many outbuildings, including a barn, horse facilities with a covered corral and tack room; also, features RV parking, a wooded bridge over the running creek, multiple decks and firepits throughout the subject property. The subject property sleeps 10 guests and is rented for $1,500 per night.
Subject property marketed on travel sites such as Airbnb, VRBO, Expedia and Travelocity as well as marketed on Facebook, other social media outlets; also, there have been featured articles on MSN.com and local Temecula newspapers.
The subject property is very well located just minutes from Pechanga Casino & Resort, many popular Temecula wineries and “Old Town” Temecula; close to the 15 & 5 freeways and is near lots of local entertainment, fine restaurants & bars, horse rentals and hiking trails.
Current owner/operator is an experienced “fix & flipper” and is cashing out for new project; borrower is acquiring real estate and all business collateral related to the “The Big G Ranch” in this transaction. BPO value based on real estate only. Borrower projects 3x income in 2022 as a full-time operator. Current owner subject property loan is expiring soon and is selling real estate at slight discount. Seller carry $330k 2nd and borrower bringing approx. $100k to closing.
What we like about this Trust Deed opportunity:
- Popular, Temecula Wine Country Location
- 10.00% Investor Rate
- 61.50% LTV BPO and 73.39% LTV on Purchase Price
- Non-Owner Occupied
- Income Producing & Well Marketed Property
- 6 months Guaranteed Interest