Successful real estate investors/flippers and borrowers sought a 1st TD to purchase this SFR investment property in Joshua Tree, CA. The rehab budget of $60,000 will all be put into funds control – $12,000 of which is the borrowers’ personal ‘skin in the game.’ The borrowers plans to do a complete rehab the property – both the interior and exterior – including giving the home a new roof, new landscaping and new paint both inside and out. Once the property is fully rehabbed, the borrowers plans to sell the home and pay this loan off. Borrowers bringing in more than $80k to close this purchase.
The subject property is a ranch styled home that sits on a very large 7,200 sq ft lot. The home itself is 896 sq ft and has 6 total rooms including 2 bedrooms and 2 bathrooms. The borrower plans to do a full interior demo of the kitchen, bathrooms, flooring, sliders and windows. They will install all new cabinets, sinks, granite countertops, appliances, bathtubs and toilets. A new roof and HVAC system will be installed and all of the landscaping will be re-done. The home is located close to the heart of Joshua Tree next to bars, entertainment, schools, shopping, restaurants, parks and medical facilities.
What we like about this Trust Deed opportunity:
- Great location in Joshua Tree for a Fix and Flip
- 5 months guaranteed interest
- Non-owner occupied investment property
- Experienced real estate investor and landlord
- Large lot with substantial After Repair Value upside in the mid $400’s
$284,000 1st TD @ 10.00%, 66.82% LTV on ARV, SFR, 12 mos., 5 Mo. Guar. Joshua Tree, CA