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