118 39th Street, Newport Beach, CA 92663, USA


Investment Summary

Investment Overview

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 Buy & Hold property located in Newport Beach, CA.  The seller knows the buyer and is gifting $475,000 of Equity.  The buyer is bringing in approximately $125,000 to closing.  The property appraised by an approved appraiser for $1.57 million.

This is a business purpose opportunity with a no owner-occupied component.

 

Overview

New 1st Loan Amount:   $1,020,500

Security:                             Newport Beach Purchase for $1,570,000                                   AS-IS Value:        $1,570,000

Term Requested:             12 month term

Purpose of Loan:              Newport Beach property with $125,000 down and seller is gifting $475,000 in equity

Exit Plan:                           Borrower will either refinance or sell the property in 12 months.

COE:                                   To be approximately on 5.30.2020

Min Investment:              Fractional offers will be considered with a minimum investment of $150,000.

If you have interest in this investment opportunity, 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.

Estimated Hold Time 10-12 Months
Investment Availability

Closed to Lenders

Youtube Link

Loan Details

Lien Position 1st Trust Deed
Loan Amount $1,020,500
Net Interest Rate 8.25%
Term 40/1 Year
Type of Transaction Residential
Type of Loan Rental
Transaction Type Purchase
Occupancy Investment Property

Purchase Information

Purchase Price $1,570,000
As-is Value $1,570,000
ARV $1,570,000
Rehab Needed
LTV (PP) 65.00%
LTV (As is) 65.00%
LTV (ARV) 65.00%

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 Condo
Number of Units 2
Bedrooms / Bathrooms 6/3
Building Sq. Ft. 1,530

Automated Values

Zillow $1,486,777
Trulia
Redfin $1,604,988
Bank of America

Property Attributes

On a Busy Street

No

Near Train Tracks

No

Near Freeway

No

Suburban or Rural

Suburban

BSF

Interest Rate 9.99%
Broker Service Fee 1.74 %
Net Rate 8.25%

Location Details


Investment Overview

Loan Amount $1,020,500
Net Interest Rate 8.25%
Lien Position 1st Trust Deed
Term 40/1 Year
Purchase Price $1,570,000
As-is Value $1,570,000
LTV (As Is) 65.00%
Type of Loan Rental
Transaction Type Purchase
Occupancy Investment Property

Documents

Appraisal (Click to Download)
BPO
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.