First Trust Deed Investment

  New Trust Deed Offering   QUALIFIED TO ACCEPT SELF-DIRECTED IRA FUNDS  $50,000 MINIMUM INVESTMENT                                                 Cal-Pac Funding Corporation is proud to present a new first trust deed investment …

 

New Trust Deed Offering

 

QUALIFIED TO ACCEPT SELF-DIRECTED IRA FUNDS 

$50,000 MINIMUM INVESTMENT

                                               

Cal-Pac Funding Corporation is proud to present a new first trust deed investment secured by a 3-unit residential rental property located in Santa Monica, CA.   

                                     

Salient Investment Facts and Details:

 

Lien Position:                                     First Trust Deed

 

Investor Yield:                                   12.00%

 

Appraisal Value:                                $1,475,000

 

Broker Opinion of Value:                  $995,000        

 

Trust Deed Amount:                          $650,000        

 

Loan to Appraised Value:                44.07%

 

Loan Term:                                        2 Years (24-Month Interest Only Balloon)

 

Loan Purpose:                                       Bridge loan to payoff a small judgment from a failed lawsuit in which the sponsor was the plaintiff.  Cal-Pac has personally met with the sponsor, understands her challenges and the details of the situation, documented the facts of this special circumstance, and feels that this sponsor proves to be both a credible and very capable borrower.

 

Collateral:                                             The subject property consists of two (2) detached buildings comprising three (3) rental units (2 in front, 1 in back).  Unit breakdown is: two (2) 1bd/1ba units and one (1) 3bd/2ba unit.  The subject is 2,528 SF on a 4,983 SF lot with street frontage on Strand Street located just 5 blocks from the ocean.  We have personally visited the site and verified that the property is fully occupied with rental tenants.  Each unit is individually metered for gas and electricity paid by the tenants. 

                                                            There is a fully equipped laundry facility onsite as well.

 

Primary Sponsor Credit:                         Poor credit with special circumstances. Loan approval granted with verifiable hardship letter.  Credit restoration in process and sponsor should be eligible for takeout financing in approximately 6-9 months.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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