Business owner and real estate investor is sought a cash-out 2nd TD of this owner occupied SFR in Riverside County. Borrower plans to use the loan proceeds to invest into the borrower’s body lotion and soap business, Organic Heaven.
Our subject property is a beautiful custom built two-story SFR located in Riverside and sits on a 5 acre lot with a view. The subject was built in 1916 and has 1,528 sqft of living space with 7 total rooms – 3 bedrooms, 2 baths and 2-car attached garage. The home features spectacular views of the city and is surrounded by like style homes as well as new homes about one block away. The home is located just north of the of 91 Fwy and east of the 15 Fwy near La Sierra University and shopping. Rental income is $1,500 per month.
$50,000 2nd TD @11.75%, 61.67% CLTV, Cash Out, Single Family Residence, Riverside, CA
