Currently Funding - Vacant Land Deal
Interested in learning more about this investment? Contact Us and we will be happy to assist you!
Loan Amount: $388,000
Collateral: First Trust Deed on 1.35 acres of commercial land located in Las Vegas, Nevada.
Purpose: To purchase vacant land to build a public storage facility. We will be doing the construction loan once all plans have been approved by the county. Borrower is buying property for $455K and putting down $136K in cash.
Property Description: First Trust Deed on 1.35 acres of vacant land.
Loan-to-Purchase: 70% BPO has been ordered and property should come in with a value north of $500K.
Interest Rate: 11.50% per annum, paid monthly.
Minimum Interest: 3 months minimum interest guaranty. No prepayment penalty after 3 months.
Term: 12 months
Borrower/Guarantor Profile: Experienced real estate developer and business owner in Las Vegas. Net Worth estimated at $2.2MM. Call for more details.
Sources of Repayment:
Construction loan by NV Capital
Refinance with a conventional lender.
Sale of Property to a 3rd Party
Loan Servicing: FCI Loan Servicing will provide loan servicing at Borrower’s expense.
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.