Previous and successful Mortgage Vintage borrower sought a 1st TD to purchase this SFR + Land investment property in Downey, Los Angeles County, CA.  The borrower intends to develop a rental SFR on this subject property in the future.  The borrower is buying the subject property at a discount below the appraised value because borrower is buying out their real estate investment partner’s current interests in the property.  The property is currently in a maturity default with the current lender.

The subject property is a 25,654 SF rectangular land lot. The subject property currently has an uninhabitable SFR and in-ground pool that will be torn down and replaced with a newly constructed rental SFR in the future. The subject property is very well-located just west of the 5 FWY & 605 FWY interchange and close to several nearby schools, restaurants and shopping.

What we like about this Trust Deed opportunity:

  • Previous successful Mortgage Vintage borrower
  • Borrower bringing $215,000 as Down Payment
  • 40.24% LTV off “As Is” Appraised Value
  • 6 months’ Guaranteed Interest
  • 9.75% Investor Yield

$340,000 1st TD @ 9.75%, 40.24% LTV on Appraisal, SFR, Purchase, NOO, 24 Mo. Term, 6 mo. Guar., $68,000 Min., Downey, CA