551 and 555 Grove Avenue, Richmond, CA 94801, 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 an investment property located in Richmond, CA. This is a business purpose opportunity with no owner-occupied component.
Overview
New 1st Loan Amount: $420,000
Net Interest Rate: 8.25%
Security: 551 & 555 Grove Ave., Richmond Purchase for $405,000 Value: $689,000 (this is the current value for 551 Grove and 555 Grove)
459 4th St, Richmond Cross Collateral (In 2nd position) Value: $370,000
-we also have the 1st TD on 4th St. for $175,000
Equity: Grove properties $420,000 loan and value is at $689,000
4th Street 1st TD Lien $175,000 and the 2nd TD Lien $420,000
Term Requested: 12 month term
Purpose of Loan: Purchase Richmond property with 0 down. Using 529 4th St, Richmond CA property as collateral.
Exit Plan: Once repaired and fully occupied, will refinance and take us out.
COE: To be approximately on 1.14.2019
Min Investment: Fractional offers will be considered with a minimum investment of $125,000.
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.
Loan Details
| Lien Position | 1st Trust Deed |
| Loan Amount | $420,000 |
| Net Interest Rate | 8.25% |
| Term | I/O due in 1 year |
| Type of Transaction | Residential |
| Type of Loan | Rental |
| Transaction Type | Purchase |
| Occupancy | Investment Property |
Purchase Information
| Purchase Price | $405,000 |
| As-is Value | $689,000 |
| ARV | $900,000 |
| Rehab Needed | $100,000 |
| LTV (PP) | 103.70% |
| LTV (As is) | 60.96% |
| LTV (ARV) | 46.67% |
Junior/Senior Financing
| Junior/Senior Financing | |
| 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 | 2 |
| Bedrooms / Bathrooms | 4/2 |
| Building Sq. Ft. | 2,922 |
Automated Values
| Zillow | $820,648 |
| Trulia | $818,590 |
| Redfin | $0 |
| Bank of America | 0 |
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 | $420,000 |
| Net Interest Rate | 8.25% |
| Lien Position | 1st Trust Deed |
| Term | I/O due in 1 year |
| Purchase Price | $405,000 |
| As-is Value | $689,000 |
| LTV (As Is) | 60.96% |
| Type of Loan | Rental |
| 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.