Vacant Lot N. Lang West Covina, CA 91790 (sold)

Street Address: North Lang
Loan Amount: $154,375.00
Purchase Price: $237,500.00
Appraised Value: $240,000.00
Loan to Value: 65%
Investor Yield: 10.00%
Property Type: Vacant Lot
Occupancy: Non Owner Occupied
Term: 40 due in 6 months (plus 6 month extension option)
Loan Status: Funded
Trust Deed Status: Sold

Contact Information:

David Golden
Office: 949.467.9288
Mobile: 949.500.1917

Trust Deed Inquiry

Property Description:

- Experienced in-fill home builder is purchasing this vacant lot to build 1 spec home

– Our company is funding a 65% 1st trust deed and a 5% 2nd trust deed

– Borrower is bringing in 30% down payment

– Only the first trust deed is available to purchase, our fund will portfolio the 5% 2nd trust deed (we keep “skin in the game”)

– The borrower will obtain permits from the city and prep the lot, then obtain construction financing