Long time successful real estate investor and business owner sought a cash-out 1st TD on this Riverside home to use as a down payment for the purchase of another investment property in Corona. All proceeds from this loan will be going straight to escrow for the purchase of the Corona property. Borrower is going to Fix and Flip the Corona property and pay back this loan with the proceeds.
The subject property securing this loan is a new home that is currently being built. When completed, it will be a single story ranch style home that sits on a large 6,098 square foot lot. The home itself will be 1,758 square feet and consist of 9 total rooms including 4 bedrooms and 3 bathrooms as well as an attached 2-car garage. The home is located in a great part of Riverside next to schools, shopping, restaurants, parks and medical facilities.
What we like about this Trust Deed opportunity:
- Great Riverside location
- 4 months Guaranteed Interest
- 1st TD with very low LTV
- Long time real estate investor