Successful business owner/operator of “Trinity Iron Works”, current MVI borrower and real estate investor sought a 1st TD business purpose cash out on this “Free & Clear” SFR in Weaverville, Trinity County, CA. Funds from this loan will go directly towards the purchase of a commercial building real estate acquisition closing soon in escrow. Mortgage Vintage is also managing this purchase loan.
Exit strategy is to pay off our loan through refinance or business proceeds.
The subject property is fully remodeled, in excellent condition SFR with 750 SF of living space, 5 total rooms, 1 Bed / 1.5 Bath, on .35 acres. Borrower spent 150K personal funds on interior and exterior recent renovations. The property features a new beautiful back deck/patio with redwood views. The subject property is very well located near downtown Weaverville, close to many restaurants, shopping plazas, schools and nature parks.
What we like about this Trust Deed opportunity:
- 1st TD with 9.00% Investor Yield
- Newly renovated SFR
- 58.50% LTV on BPO Value / 55.28% Net LTV
- 6 months Guaranteed Interest
- 6 months Prepaid Interest
$146,250 1st TD @ 9.00%, 58.50% LTV, SFR, Cash Out Refinance, 24 mos., 6 mos. Guar., Weaverville, CA
