I have a new property in Normal Heights that needs a loan.
Purchase Price : $171,000
Loan Amount: $141,000
LTV: 82% of purchase price
Term: 6 months (this loan will most likely pay off in 3 months)
San Diego - Normal HeightsInterest Only Payments
We are paying the investor 11% interest on this loan.
Normal Heights is a trendy up and coming neighborhood in San Diego. This area used to be on the rough side but it has really become the place to be in the last few years. This property is a single cottage home 2 bedroom / 1 bath.
The properties, when fixed up, go for around $250,000 - $280,000. The rent on on a unit like this is about $1,350 - $1,450 a month depending on the condition.
If we were to take this property back form the owners (at $141,000) we would have about $1,353 positive cash flow if we were to rent it out. This is an 11.5% return on your money.
I think this is a great deal that the people buying this property are getting. If I could get this thing into contract at $141,000, it would be a no brainer.
Alexander (Sasha) Favelukis
Priority First PF, LLC
858-205-2449
Purchase Price : $171,000
Loan Amount: $141,000
LTV: 82% of purchase price
Term: 6 months (this loan will most likely pay off in 3 months)
San Diego - Normal HeightsInterest Only Payments
We are paying the investor 11% interest on this loan.
Normal Heights is a trendy up and coming neighborhood in San Diego. This area used to be on the rough side but it has really become the place to be in the last few years. This property is a single cottage home 2 bedroom / 1 bath.
The properties, when fixed up, go for around $250,000 - $280,000. The rent on on a unit like this is about $1,350 - $1,450 a month depending on the condition.
If we were to take this property back form the owners (at $141,000) we would have about $1,353 positive cash flow if we were to rent it out. This is an 11.5% return on your money.
I think this is a great deal that the people buying this property are getting. If I could get this thing into contract at $141,000, it would be a no brainer.
Alexander (Sasha) Favelukis
Priority First PF, LLC
858-205-2449
