Real estate investor borrower sought a new 1st TD to invest into to his property management company and other real estate investments. The exit strategy by the borrower was to refinance with a conventional loan or pay loan off.
The subject property is a duplex home that contains 1,420 sf and was built in 1940. The property has 5 bedrooms and 2 bathrooms. Each unit rents for $2,000 per month. Property is central located and close to schools, entertainment, shopping and medical facility with close proximity to the 105 freeway.