$50,000 Real Estate Loan Wanted 8% return
A loan secured by the 1-st deed of trust on the following property. House is a frame on slab, 980 Square footage It has central Heat and Air-conditioning systems and all appliances. This property has 3 bedrooms, 2 bath located in the rural area between San Antonio and Poteet Texas, off HWY 16S 5 miles north of Poteet
The market value based on comparable is $79,000. We believe the Market value is $89,500. The home is currently leased at $850 per month.
The loan terms requested are:
Amount: $ 50,000
Interest rate: 8% per annum
Term: 5 years
Payments: $ 330 mo (interest only)
With $50,000 secured by the 1-st lien and an estimated value of the property in the range of $79,000-$89,000 the Loan-To-Value on this financing is going to be in the 56%-63%, which presents a reasonably well secured investment.
Borrower will be Gem Rentals LLC. Company is five years old, owner has 32 years real estate investing experience. Jim 210-413-7230