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Loan Number:218297

FULL! This loan is a purchase first deed of trust on a single family residence in Lemon Grove.

More Information:


Loan Document

INVESTMENT DETAILS



This loan is a first deed of trust on a single-family residence in Lemon Grove, CA. This 1,743 square foot home sits on a 6,969 square foot lot and features 4 bedrooms, and 3 bathrooms. Lemon grove is a suburb of San Diego County. The area consists of mostly older vintage single-family residences with some newer homes in the mix. The subject has close access to the freeway, shopping centers, entertainment, schools, and restaurants. The appraiser notes that the property has been well maintained over the years, all interiors have been updated, and the yard is nicely landscaped. The property is currently owned by a Church which purchased the home in 2015 newly renovated and has held it as a rental since. The pastor and CEO of the church is the borrower that will be purchasing the home via his trust. He will be putting down 30% of the purchase price plus closing costs. The current tenant will stay in place and sign a new lease with the new owner. The property will continue to generate $3,261 per month in rental income. The purpose of the purchase is to free up some capital for the church. The Trustee of the Borrower is family friend of SO-CAL’s who has strong liquid assets, a 4-unit rental property valued at $2.2M, a mid-credit score of 707.

Minimum Investment

$25,000.00

Loan Amount

$353,500.00

Loan Term

36 months

Loan Interest Rate

8.50%

Loan Position

1st Position

Net Yield to Investor

8.00%


Important Investment Disclosures:
Important investment disclosure. Your investment will be either directly or indirectly secured by real estate. You may receive a direct interest in a promissory note and deed of trust as a fractionalized interest as a tenant in common, as a single beneficiary, or, your investment may be in the form of a membership interest in a limited liability company formed for the specific purpose of funding a loan. Nothing in this announcement constitutes an offer to sell or a solicitation of an offer for investment. An offer is made only by the offering circular and material disclosure package. Past performance is not an indication of future results. We strongly recommend before making an investment decision that you thoroughly read the contents of the entire loan material disclosure package. You are encouraged to consult with your own tax and financial advisers before investing. Investments are NOT insured by any government agency and are NOT guaranteed. Investments offered through So-Cal Capital, Inc. are not liquid, not transferable, and involve substantial risk, including the possible loss of all principal.