This loan is a second deed of trust on a single-family home in Pebble Beach, CA. This 4,797 SF home features four bedrooms and three bathrooms on a large 1.46-acre lot behind the beautiful Poppy Hills Golf Course. In addition, there is a 663 square foot detached studio unit. Pebble Beach is located on the Monterey Peninsula and is a small coastal community featuring one of the world's most renowned Monterrey golf courses and three acclaimed resorts. It is also well known for being the home of the famous Concours d'Elegance car show.
The subject has all new electrical, plumbing, Venetian plaster walls, tile and marble flooring throughout, new roofing, and top-of-the-line kitchen appliances. There has also been expensive landscaping, including fire pits and a bocce ball court. The subject is dominated by the Monterey Pine Forest, World-class golf courses, and the Pacific Ocean. The Borrower does occupy the home from time to time and uses it as a vacation rental property. In 2020 the home grossed $253,375 on Airbnb/VRBO and $110,199 for 2021 to date.
The purpose of the loan is to pay off the current business purpose second lien that is due. The Borrower is currently working on a refinance through a new conventional first trust deed.
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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.