Riverside County Land Refinance
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Loan Amount: $1,150,000
Collateral: First Trust Deed on 33 acres of industrial-zoned land in Riverside County. The property is located at the southwest corner of Little Morongo Road and Two Bunch Palms Trail in the City of Desert Hot Springs.
Loan-to-Value: Estimated at 35%. Based on a multitude of comparable sales in the area, a value of $2.00 per sq. ft. ($2,874,960 for the 33 acres) appears reasonable based on the property’s current industrial zoning and recent annexation into the City of Desert Hot Springs. The Borrower is applying for a Conditional Use Permit to allow cannabis-related use on the property, which would allow sale of lots to cannabis-related users. If approved, the CUP will likely double the value of the property.
Interest Rate: 12.0% per annum, paid monthly. Note rate is 12%.
*NV Capital Corporation will receive a 0% interest override.
Minimum Interest: Six months minimum interest guaranty. No prepayment penalty after six months.
Term: 18 Months, with a six-month extension option for which the Lender will be paid ½ % of the then-outstanding principal balance.
Borrower/Guarantor Profile: Call for details. Loan Documents done by and with conjunction of a California Law Firm.
RISK DISCLOSURE All real estate markets can be negatively affected by interest rates, availability of capital, supply and demand factors, and general economic conditions both locally and nationally. The investor should review this proposal with these risk factors in mind, and base the investment decision on both existing market conditions and potential changes in the economy, as well as the investor’s personal objectives and risk tolerance.