Real estate investor sought a $775K 1st Trust Deed business purpose cash out loan on this “Free and Clear” (no existing debt) non-owner-occupied investment rental SFR property in Ojai, Ventura County, CA. The purpose of this loan is to use funds to invest in other real estate investment rental properties to add to borrower’s existing Schedule of Real Estate shown in investor dropbox.
The subject property is a two story, ranch styled, SFR with mountain views in the Ojai Valley. The subject property consists of 2,254 SF total living space with 2 Bedroom / 2 Remodeled BA sitting on a large 40.06 acres lot. The subject property features a cellar, built in BBQ, creek with bridge, landscaped terraces, variety of fruit orchards, waterfall and pond. The subject property also features separate 3 outbuildings, adding another 1,168 in SF to subject property. The subject property is on highway 33, just 7 minutes from local shopping, restaurants and located 2 hours’ drive from downtown Ojai and 3 ½ hours east of Santa Barbara. Ojai is a tourist destination known for its boutique hotels, year-round recreation opportunities and hiking. The subject property is fully occupied earning $8K per month rental income.
What we like about this Trust Deed opportunity:
- Real estate investor
- SFR, orchard land with mountain views of Ojai Valley
- 37.80% LTV and 34.12% Net LTV (Blended 60% SFR & 25% Land)
- 11.50% Lender Rate
- 9 months Prepaid Interest
- 6 months Guaranteed Interest
$775,000 1st TD @ 11.50%, 37.80% LTV, Cash Out, SFR, $38,750, Min Inv., Ojai, CA
