Successful Mortgage Vintage borrower and real estate investor sought a business purpose cash-out 2nd TD on this investment property. The funds from our loan will be used to make improvements on another investment property borrower owns in Carson, Los Angeles County, CA. Exit strategy is a conventional refinance of either this property or one of borrower’s other investment properties to payoff this loan after the improvements have been completed.
The subject property is a ranch style, two story SFR located in the South Bay neighborhood of Carson, CA. The subject property has 1,868 SF of living space and sits on a .10 acre lot. The subject property has 8 total rooms with 4 BR/2.0 BA and 2 car attached garage. The subject property is fully occupied with tenant paying $3,850 rent/monthly. The subject property is well located north-east of the 405 FWY and 110 FWY interchange and just south of the 91 FWY. The subject property is near shopping, restaurants, schools and parks.
What we like about this Trust Deed opportunity:
- Experienced real investor and Mortgage Vintage borrower
- 9.50% Annualized Return
- 51.47% CLTV and 50.94% Net CLTV on conforming SFR
- 6 Mos. Guaranteed Interest
- 6 Mos. Prepaid Interest
- Tenant paying $3,850 mo/rent
