Business owners sought a cash-out 2nd TD of this owner occupied Condo in Simi Valley, Ventura County. Proceeds from this loan will be invested into the Borrower’s Allstate Insurance business.
Our subject property is a well appointed two-story Condo located in Simi Valley. The subject was built in 1987 and has 1,137 sqft of living space with 5 total rooms – 2 bedrooms, 2.5 baths and an attached 2-car garage. The interior of the property has been updated with wood laminate flooring throughout the first floor. Other upgrades include recessed lighting, interior paint, new electrical, tile flooring and counters in the kitchen, new kitchen backsplash, and new appliances. Other improvements also included a remodeled bathroom including new flooring, walk-in shower, and new plumbing. The home is located just south of the 118 fwy close to schools, restaurants, shopping, and recreation.
What we like about this Trust Deed opportunity:
- Ventura County location
- Borrower has strong income
- 6 months Guaranteed Interest
- CLTV: 66.29%
- Net CLTV: 65.77%
$76,000 2nd TD @ 10.00%, 66.29% CLTV on Value, Cond, 36 mos., 6 mos guar., Simi Valley, CA
