Real estate investors and business owners sought a 1st TD business purpose cash out loan on this “Free & Clear” parcel of land in Truckee, Nevada County, CA which is located just 20 minutes from Lake Tahoe and a few minutes from downtown Truckee, a popular hub for all season outdoor activities. The purpose of this loan is to use funds for final soft costs, including to pay for permits ready to build an investment SFR on subject property. Exit strategy: construction loan.
The subject property is .37 acres of level lot land, backing to forested open space in Gray’s Crossing, complete with city approved plans and permit-ready for a 5,200 SF custom home with attached ADU; includes, optional access to Gray’s Crossing private fitness, pool, hot tub. The subject property is very well located, just minutes from downtown Truckee, local schools, shopping, restaurants, tourist area.
What we like about this Trust Deed opportunity:
- “Free & Clear” subject property on the popular recreational Truckee-Tahoe area
- 25.00% LTV, 23.13% Net LTV on Recent “As Is” Land Appraised Value
- 12.75% Annualized Investor Return
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
- $405,000 gross protective equity to investors off recent Land Only “As Is” Value