Borrower sought a business purpose 2nd Trust Deed on this investment rental property in Jurupa Valley, Riverside County, CA.. The purpose of this loan is to pay off an existing $65K 2nd TD and the balance will be invested into borrower’s autobody company. Borrowers’ 1st mortgage is current with a small principal balance of $47,507 a fixed interest rate of 6.50%, P&I payment of $880/mo. maturing February 2033.
The subject is a one-story, ranch style prefab SFR with a total of 5 rooms, 3 Bed / 2 Bath with 1,344 SF living space on a .18 acres lot with a 2 car detached garage. The subject property is fully occupied earning $2,500 monthly rental income. The subject is surrounded by similar properties, schools, restaurants, shopping, and the 60 FWY.
What we like about this Trust Deed opportunity:
- Small 1st TD $47,507 a fixed interest rate of 6.50%, P&I payment of $880/mo
- 12.25% Investor Yield
- 49.47% CLTV on recent BPO value report
- 46.75% Net CLTV
- Income Generating Investment Rental Property
- 6 months Prepaid Interest
- 6 months Guaranteed Interest
$140,000 2nd TD @ 12.25%, NOO, Manuf Hm, 49.47% CLTV, $35,000 Min., Jurupa Valley, CA
