Atascadero Subdivision
14 homes in a 32 home subdivision in Atascadero, CA, are in the final stages of construction before they are put on the market. Last sale was recorded in December of 2007 for $459,000.00. Construction is 65-90% complete on the remaining homes.
We are offering 1st Trust Deeds in loan sizes ranging between $100,000.00-200,000.00, which includes an interest reserve, and a loan to value of under 50%. The homes will be finished under fund control while being marketed simultaneously. Time frame on the loan is 12 months.
Opportunity Specifications
| Interest Rate: |
10 percent |
| Term: |
12 Months |
| Interest Reserve: |
included in the 12 month term |
| Lien Position: |
1st Trust Deed |
| Estimated Value: |
$400,000.00 |
| Estimated Total Value: |
$6,400,000.00 |
| Loan Amount: |
Between $100,000 and $200,000.00 |
| Loan to Value: |
Between 25 and 50 percent |
| Percent Complete: |
65-90 percent per home |
| Construction Disbursement: |
Under fund control |
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