New loan in La Mesa

Here is a new loan in La Mesa that we are funding. The borrower is a very experienced flipper here in San Diego.

Purchase Price : $310,000
Loan Amount: $217,000
LTV: 70% of purchase price
Term: 6 months (this loan will most likely pay off in 3 months)
La Mesa, CA
Interest Only Payments
We are paying the investor 11% interest on this loan.

This is a very unique property for San Diego because of the fact that it has a 1 bedroom unit attached to the house (with a full kitchen). This really give the next owner a great advantage because they are able to rent this unit out for approximately $1,100. This will help them a lot with payments.

The way that I look at it is if we have to take this house back in foreclosure(most likely won't happen), we could rent the house out for $1,700 and the rental unit for $1,100. This would give a $2,800 income on this property that we would be taking back for $217,000. After calculating $226 for taxes and insurance monthly, you end up with an 14.2% cash on cash return. This is a great investment, I would buy this house for $217,000 in a heartbeat if it was on the market for that.

Alexander (Sasha) Favelukis

Priority First PF, LLC

Welcome to our blog

As this is my first blog post, I would like to go over the basics of my business.

Sequoian Investments Inc. is a company that was founded in the beginning of 2010. We started off just investing in hard money loans but now have expanded into buying real estate to hold.

The purpose of this site is to educate people and show them what type of investment opportunities are out there and what deals we are closing. Seeing the financial and real estate world from the inside, I see how many great deals there are out there. Nothing upsets me more than seeing people's money rotting away in a CD at 1% interest when the rate of inflation is anywhere from 1.5% to 2%. In essence, people are LOSING money by keeping it in the bank.

In future posts you will see how any investor (be it $25,000 or $1,000,000) can have virtually no risk investing in conservative real estate transactions and get an 8% or higher return.

I will be listing deals that either Priority First is a part in or great deals that are on the table.

Thank you very much,

Alexander (Sasha) Favelukis