Business owners and real estate investors sought a new business purpose cash-out 1st TD on this non-owner occupied investment property in Modesto, CA in Stanislaus County. Funds from our loan will be used to payoff an existing 1st as well as for making improvements to the same property.
The subject property is 1,220 SF ranch style SFR sitting on a 6,784 SF lot. The home has 6 total rooms with 2 BR/2 BA and a 2-car attached garage. The property is close to HWY 99 and centrally located to schools, entertainment, restaurants, shopping, parks and medical facilities. Rental income is $1,500/ month. Exit strategy from our loan is a conventional refinance.