Business owner and real estate investor sought a new business purpose cash-out 1st TD on this non-owner occupied investment property in Atwater, CA in Merced County. Funds from our loan will be used to invest into the Borrower’s restaurant (Tequila Restaurant) as well as for making improvements to the same property. Borrower’s Restaurant was impacted by Covid restrictions.
The subject property is 1,059 SF ranch style SFR sitting on a 8,348.19 SF lot. The home has 5 total rooms with 2 BR/1 BA and a 2-car carport. The property has an upgraded kitchen and bathroom. The property is close to HWY 99 and centrally located to schools, entertainment, restaurants, shopping, parks and medical facilities. Rental income is $1,350/ month. Exit strategy from our loan is a conventional refinance or to sell the property
What we like about this Trust Deed opportunity:
- Non-owner Occupied Investment Property
- 10.25% Annualized Return
- 12 months Guaranteed Interest
- 12 months Prepaid Interest
- $1,350/month rental income
$198,250 1st TD @ 10.25% 65.00% LTV NOO, SFR, Cash-Out Atwater
