1816 Bourbon Street, Odessa, TX, USA
Investment Summary
Dear Trust Deed Investors
Premier Money Source, Inc. is pleased to present the following Trust Deed Opportunity for your consideration. This is a purchase first trust deed against a Fix & Flip property located in Odessa, TX. This is a business purpose opportunity with a no owner-occupied component.
Overview
New 1st Loan Amount: $203,800
Security: Odessa, TX Purchase for $290,400 AS-IS Value: $369,900
Term Requested: 12 month term
Purpose of Loan: Odessa, TX property with 30% down
Rehab Amount: $25,000
ARV: $425,000
Exit Plan: Once the rehab has been completed, they will list and sell the property.
COE: To be approximately on 10/06/2023
Min Investment: Minimum investment of $203,800
Please contact Duane Wellhoefer at 949.246.1992 or Duane@premiermoneysource.com. If you wish to commit to this loan, please provide your exact vesting for loan documents, amount you would like to invest, and best phone.
Thank you in advance for your consideration.
Loan Details
| Lien Position | 1st Trust Deed |
| Loan Amount | $203,800 |
| Net Interest Rate | 9.25% |
| Term | I/O due in 1 year |
| Type of Transaction | Residential |
| Type of Loan | Fix & Flip |
| Transaction Type | Purchase |
| Occupancy | Investment Property |
Purchase Information
| Purchase Price | $290,400 |
| As-is Value | $369,900 |
| ARV | $425,000 |
| Rehab Needed | $25,000 |
| LTV (PP) | 70.18% |
| LTV (As is) | 55.10% |
| LTV (ARV) | 47.95% |
Junior/Senior Financing
| Junior/Senior Financing | No |
| Type of Junior/Senior Financing |
| Junior/Senior Lien Position | |
| Junior/Senior Loan Amount |
Borrower Information
| Credit Score | |
| Foreclosure | No |
| Bankruptcy |
| Closed Flips YTD | |
| Closed Flips Lifetime | |
| Investment Properties Owned |
Property Information
| Property Type | SFR |
| Number of Units | 1 |
| Bedrooms / Bathrooms | 4/3 |
| Building Sq. Ft. | 2,335 |
Automated Values
| Zillow | $361,900 |
| Trulia |
| Redfin | $352,181 |
| Bank of America |
Property Attributes
| On a Busy Street |
|
| Near Train Tracks |
|
| Near Freeway |
|
| Suburban or Rural |
Suburban |
BSF
| Interest Rate | 10.99% |
| Broker Service Fee | 1.74 % |
| Net Rate | 9.25% |
Location Details
Investment Overview
| Loan Amount | $203,800 |
| Net Interest Rate | 9.25% |
| Lien Position | 1st Trust Deed |
| Term | I/O due in 1 year |
| Purchase Price | $290,400 |
| As-is Value | $369,900 |
| LTV (As Is) | 55.10% |
| Type of Loan | Fix & Flip |
| Transaction Type | Purchase |
| Occupancy | Investment Property |
Documents
| Appraisal | |
| BPO | (Click to Download) |
| Appraisal Review |
| MLS Listing - Before | (Click to Download) |
| MLS Listing - After | |
| Comps |
Have a Question ?
If you have a question about the transaction process general inquiry, Premier Money Source will be happy to help.