Longtime successful real estate investor sought a business purpose cash-out 2nd TD on this non-owner occupied SFR in San Francisco, CA. Proceeds from our 2nd position loan will be used to do normal ‘wear and tear’ improvements on all his investment properties so that he can maximize rental income. The borrower has a total of 4 rental properties in the San Francisco area which bring in a gross monthly rental income of ~$54,000+. Schedule E in the file.
The property has 3 levels and offers panoramic views all the way to East Bay from each. The total square footage of the home is 1,600 and sits on a 2,848 SF lot. There are 10 total rooms including 4 bedrooms and 3.5 bathrooms. The subject is in a desirable and convenient part of San Francisco in close proximity to schools, entertainment, shopping, restaurants and medical facilities. Total monthly rent for this unique SFR is $6,950. The conventional 1st TD of approximately $1,353,000 @ 4.99% has a monthly payment of $5,489.00.
What we like about this Trust Deed opportunity:
- Non-Owner Occupied Investment Property
- 10.00% annualized return
- $6,950/month rental income
- 6 months Guaranteed Interest, 3 months prepaid interest
$239,500 2nd TD @ 10.00%, 65% CLTV Cash Out, SFR, $47,900 Min Investment, San Francisco
