Previous and successful Mortgage Vintage borrower and Business owner sought a business purpose cash-out 1st TD on this non-owner occupied investment property in Riverside, CA.  Funds from our loan will be used to pay-off existing, current $216k 1st TD and the balance of funds will be used to invest in borrower’s business.

The subject property is 2,792 SF traditional style SFR sitting on a .17 acre lot.  The SFR has 8 total rooms with 4 BR/2.5 BA and a 3-car attached garage.  The subject property features a pool, deck and patio. The property is located in a suburban neighborhood with close proximity to schools, parks, shops and major highways.  Rental income is $2,000/month.  Exit strategy from our loan is to payoff loan from business revenues.

What we like about this Trust Deed opportunity:

  • Non-Owner Occupied Investment Property
  • 8.50% Annualized Return
  • 6 months Guaranteed Interest
  • $2,000/month rental income

$427,000 1st TD @ 8.50%, 70.00% LTV, 68.25% Net LTV, 24 mos., 6 mos. guar., 3 mos. prepaid, Riverside, CA 92508

 

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