Credit score borrower and real estate investor sought a business purpose cash-out 1st TD on this owner occupied SFR property in Newberry Springs, CA in San Bernardino County. Funds from our loan will be used to fix up another investment property which a duplex located at 31411 Newberry Road, Newberry Springs, CA. Borrower owns at least 10 other properties in the area.
The subject property is 1,460 SF traditional style single family residence sitting on a 40,000 SF lot. The home has 5 total rooms with 3 BR/2 BA. The subject is located in a rural area outside of town just south of the 40 fwy, 4.13 from Newberry Springs elementary school, 13 miles from Yermo and 16 miles from Silvery Valley High School. Rental income is $1,600/ month. Exit strategy from our loan is to pay it off with sale of another investment property.
What we like about this Trust Deed opportunity:
- Experienced Real Estate Investor
- 11.00% Annualized Return on an SFR
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
- 1st Trust Deed