Successful Mortgage Vintage borrower and Business owner sought a new business purpose cash-out 2nd TD on this non-owner occupied investment property in Stockton, CA in San Joaquin County. Funds from our loan will be used to make improvements to the existing property in preparation to sell it.
The subject property is 2,533 SF ranch-style SFR sitting on a 6,784 SF lot. The home has 9 total rooms with 4 BR/2.5 BA and a 2-car attached garage. The property is located in a suburban location with close proximity to parks, shops and major highways. Rental income is $2,700/ month. Exit strategy from our loan is to sell the home once all the improvements are made.
What we like about this Trust Deed opportunity:
- Prior, good-paying borrower
- Non-owner Occupied Investment Property
- 9.00% Annualized Return
- 3 months Guaranteed Interest
- $2,700/month rental income
$57,000 2nd TD @ 9.00%, 70.00% CLTV, Cash Out, 3 mo. Guar Int. 52 mos. term, Stockton, CA
