Why We Think It’s A Good Deal
- Economic Development: The loan funds will be used to refinance an existing loan, which has a balance of $1,357,000. The borrower will pay down the principal balance of the existing loan to $999,999.00 prior to the funding of this proposed loan.
- Security: First Trust Deed on 1590 E. Flamingo Rd. Las Vegas Nevada 89119. The property is improved with a tavern known as Bar Code. The property is leased to a tavern operator with two locations in the Las Vegas area. The tenant made significant improvements to the property prior to opening three years ago. Their monthly rent payment is $9,600.00.
- Loan-To-Value Ratio: 52.6%. An appraisal from Keith Harper of Valuation Consultants dated December 16, 2018, indicates a value of $1,900.000.
- Investor Payout: 11.5%*Paid monthly. Min 6 month interest guaranteed to lender.
- Minimum Investment: $50,000 Secured by First Deed Trust.