Real estate investor sought a cash-out refinance 1st TD on this SFR non-owner occupied rental property in Compton, CA in Los Angeles County. Funds from our loan will be used to payoff existing 1st and additional cash-out used to make minor upgrades to subject property.
The subject property is 1,182 SF bungalow style SFR sitting on a 5991 SF lot (.1375 acres) in a stable, well-located neighborhood of homes similar in style and age. The home has 6 total rooms with 3 BR/1 BA and a 1-car detached garage. The property is located East of the 110 FWY and South of the 105 FWY and is centrally located close to schools, shopping, and transportation. Rental income is $2,000/ month. Exit strategy from our loan is a conventional refinance.
What we like about this Trust Deed opportunity:
- 10.50% annualized return on a 1st TD
- 12 months guaranteed interest
- 12 months prepaid interest
- Current monthly rental income: $2,000
- Borrower employed and making $6k/mo. in Construction
- 56.88% Net LTV
$269,750 1st TD @ 10.50%, 65.00% LTV, Refi, NOO, SFR, 18 mos, Compton, CA
