Experienced real estate investor sought a business purpose cash-out 1st TD on this non-owner occupied, investment rental property in Whittier, Los Angeles, CA. Funds from our loan paid off an existing Business Purpose 1st of approx. $250k and the balance of the funds will invested in borrower’s new start-up business. Exit strategy is a conventional refinance or sale of property.
The subject property is single story, traditional style SFR in a well maintained, suburban neighborhood in Whittier, CA. The SFR sits on a .15 acre lot with 1,240 SF of living space. Subject property features 6 total rooms with 3 BR/2 BA, 2 car attached parking and features a nice wood fencing around subject property. The property is very well located near many shopping plazas, schools, parks, restaurants, and the 605 & 5 Interstates. The subject property is fully occupied. The front unit earns $2,480/mo. and the back unit earns $850/mo., totaling rental income as $3,330 per month.
What we like about this Trust Deed opportunity:
- SFR Investment Property
- Fully occupied, earning total $3,330 per month
- 65.00% LTV
- 8.50% Annualized Return
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
