Successful real estate investors and business owners sought a business purpose cash-out 1st TD on this free and clear, owner-occupied property to finish rehab on a restaurant they are opening in Summer 2023. The borrowers currently own several investment properties and also own and operate Calabasas Pet Wash. Their next business venture will be called Gunsmoke BBQ, which will be a new restaurant located at 817 E Main Street, Santa Paula, CA 93060. They purchased the restaurant that was originally there and have already begun rehab and improvements using their own funds to transform it into Gunsmoke BBQ.
The subject property consists of a 1-bedroom, 2-bathroom, 1,155 SF Single Family home, two 1-car garages, two open hay barns, two well reservoir tanks with a filtration system that purifies the house water, a brand-new large metal warehouse with a workshop and storage, and a new large outdoor patio and pool. The home, which is located at the top of Wheeler Canyon between Ventura and Santa Paula, sits on 76.88 beautiful acres of land consisting of orchards, pastures with livestock and beautiful rolling hills with incredible panoramic views. Accessed by a private gated entry, the property is truly one-of-a-kind.
What we like about this Trust Deed opportunity:
- Very low Loan to Value of 22.00%
- 19.58% Net LTV
- 12 months Prepaid interest
- 12 months Guaranteed Interest
- Successful real estate investors and business owners
- Property uniqueness, location, and views
- Free and Clear
$550,000 1st TD @ 9.50%, SFR, 22.00% LTV, Cash Out $55,000 Min Investment, Santa Paula, CA
