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