Real estate investor is sought a 1st TD Cash-Out Refinance loan on this non-owner occupied SFR investment property in Lake Arrowhead, San Bernardino County, CA. Funds from our loan will be used to pay-off an existing HELOC lien and balance of funds will be used to complete interior property renovations.
The subject property is a two story SFR with 2,184 SF of rentable living space sitting on a 8,450 SF lot. The subject property has 4 Bedrooms / 3 Baths and 2 car driveway. The subject property is currently vacant until renovations are complete. Borrower has a Vacation Rental property management company managing this property. Prior to renovations, subject property was earning on average $980 a month after management and cleaning fees. As soon as renovations are complete, subject property will be available for vacation rental. The property is well located on popular Lake Arrowhead and is near schools, grocery stores and local restaurants.
What we like about this Trust Deed opportunity:
- Lake Arrowhead Location
- 59.95% LTV / 58.60% Net LTV
- 6 months guaranteed interest
- 3 months prepaid interest
- Possible monthly rental income: $890
