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James Glasgow Sr
  • Involved In Real Estate
  • San Antonio, TX
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$50,000 Real Estate Loan Wanted 8% return

James Glasgow Sr
  • Involved In Real Estate
  • San Antonio, TX
Posted Mar 30 2015, 11:29

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

Looking for

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