- Purpose: To provide purchase financing for home in Henderson. Purchase price is $1,400,000. There will be a 2nd TD in the amount of $150,000 subordinate to our loan. Borrower’s cash equity in the transaction will be in excess of $300,000.
- Collateral: Note secured by 1st Trust Deed on property in Henderson, Nevada. The property is currently improved with a custom-built, 4,745 sq.ft. home with 4 bedrooms, 4.5 baths and three- car garage. The home includes a new tennis court, large pool/spa, and covered barbecue area. The home was built in 2016 and is in excellent condition.
- Loan-To-Value: 69.6%. An appraisal provided by AppraiseVegas LLC dated September 17, 2019 indicates a value of $1,400,000.
- Minimum Interest: 120 days minimum interest guaranty.
- Borrower/Guarantor Profile: Successful social media entertainer and former member of the US Navy. He is purchasing the Dufort Hills property as an investment.
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