Successful, existing, and repeat Mortgage Vintage borrower who is a very experienced “fix & flip” real estate investor is seeking a small 1st TD Purchase Loan on this non-owner occupied, SFR investment property in Needles, San Bernardino County, CA. Borrower is bringing in $32K “skin in the game” cash to close towards this small $69K SFR Purchase Price plus borrower is investing another $50K personal funds and labor to clean up and complete basic upgrades to fix & flip this investment property. Borrower intends to list subject property for $180k sales price once fix complete.
Exit strategy: sale of property. Investor guaranteed interest on this loan is 6 Months.
Subject property is a traditional, 1 story SFR with 1,411 SF living space, 6 total rooms, 3 Bedroom, 2 Bath, living room, den and a large backyard sitting on a large 8,580 SF lot. The subject property is surrounded by similar SFRs, many local parks, restaurants, schools, medical centers and shopping plazas. The subject property is located in Southern California near the popular resort town of Lake Havasu, the Mojave National Preserve and 1 ½ hour south of Las Vegas, just off the Interstate 40 and US Route 95.
What we like about this Trust Deed opportunity:
- Successful, existing and repeat Mortgage Vintage Borrower
- Experienced Fix & Flip Real Estate Investor
- 11.00% Investor Rate
- Borrower “Skin in Game” at closing $32K + another $50K for cleanup & remodel
- 6 months Guaranteed Interest
- SFR Investment Property
- Redfin & Zillow “As Is” Value $75K