Real estate investor sought a new business purpose cash-out 2nd TD on this non-owner occupied investment property in Temecula, CA in Riverside County. Funds from our loan will be used to payoff an existing 2nd as well as for making improvements to the same property.
The subject property is 1,973 SF ranch style SFR sitting on a 5,662 SF lot. The home has 8 total rooms with 4 BR/2 BA and a 2-car attached garage. The property is close to HWY 79 and centrally located to schools, entertainment, restaurants, shopping, parks and medical facilities. Monthly rental income is $2,200/mo. Exit strategy from our loan is a conventional refinance.
What we like about this Trust Deed opportunity:
- Non-owner Occupied Investment Property
- 12.00% Annualized Return
- 12 months Guaranteed Interest
- 12 months Prepaid Interest
- $2,200/month rental income
- Centrally located to retail and transit
- Strong credit
$235,000 2nd TD @ 12.00% 60.60% CLTV Cash-Out $47,000 Min Inv, Temecula
