Borrowers/realtor sought a 1st TD business purpose cash out loan to remodel this “free and clear”, non-owner-occupied investment SFR property in Perris, Riverside County, CA. Funds will be placed into Funds Control to fully remodel this SFR; project managed by a licensed General Contractor. Exit strategy: conventional refinance once complete.
The subject property is a single story, ranch style, SFR with 1,692 SF living space, 7 total rooms, 3 Bedroom, 2 Bath, featuring a patio, fireplace and sits on a 2.27 acres lot. The property upon completion will be fully remodeled interior and exterior, including a new roof and electrical (with permits). The subject property is surrounded by similar ranch style SFRs, many local restaurants and shopping. The subject property is located west of the 215 FWY and north of the 74 HWY.
What we like about this Trust Deed opportunity:
- Borrowers with real estate experience (realtor)
- SFR Investment Property
- 48.15% LTV And 18.97% Net LTV with Funds Control for Remodel
- 12.00% Investor Rate
- 6 months Guaranteed Interest
- 6 months Prepaid Interest
- 12 Month Loan Term