Successful business owner and real estate investor sought a business purpose cash out 2nd TD on this owner occupied SFR in Dublin, Alameda County, CA. Borrower’s current and in good standing on his conventional 1st TD. The balance is at $1,487,000 and has an interest rate of 3.99%. Funds from our loan will be used to complete renovation on a separate San Francisco investment property. The After Repair Value on that property is $4,500,000 and the current loan is $1.95 Mil. Exit strategy from our loan is a conventional refinance once rehab is complete.
The subject property is a contemporary style, two story, SFR in perfect condition, in a very well-establish and affluent area of Alameda County. All homes in the area are $2,000,000+. This home was built by the Toll Brothers in 2015 and included all upgrades in construction. The home is 4,015 SqFt, sits on a 8,170 SqFt lot, and has 12 total rooms including 5 bedrooms, 4.5 bathrooms, an upstairs loft, a private yard with no rear neighbors and a covered patio with fireplace. The property is well located near many shopping plazas, schools, parks, BART, freeways, hiking trails, restaurants, entertainment and medical facilities.
What we like about this Trust Deed opportunity:
- Beautiful, affluent neighborhood in Northern CA
- Successful business owner and real estate investor
- 6 months Guaranteed Interest, 3 months prepaid interest
- $979,650 Investor Equity Protection
