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$200,000 First TD Note secured by $350,00 equity. $50,000 shares may be available

 

 

Ln # 690   Yield 8.25%    Pymt $1,375   Term 36 months   LNV 57%   AAA

This $200,000 First TD note is being originated to yield 8.25 % interest only monthly on payments of $1,375, and a final payment of $201,375 in July, 2011. Note terms will include a late charge of $138 if not paid in 10 days, a due on sale clause, and 18% interest or the maximum permitted by law if in default.

The note is secured by a 880 sq/ft retail store building in La Mesa leased to “All Things Bright and British” the tenant for 18 years. A 5yr lease extension at $1,550 was recently signed that escalates to $1,750 in 3 years. The well maintained property is valued at $350,000 by the owners who also purchased the 2 adjacent properties concurrently in April, 2008. Based on the new rents, the $350,000 value indicated a 57% LTV.

The owners are 4 men active in various law enforcement agencies, headed by a 29% owner, an unmarried man who is an 18 year FBI special agent. He reports $3,026,500 net worth, a 779 FICO score and owns other income property himself and with these and other partners. Funds will be used to repay Line of Credit funds used to complete the purchase. This is the 3^rd loan arranged for these partners. All payoffs and monthly payments have been timely without exception.

Ln # 690. April 21, 2008   The full prospectus is available at the office of:

George  Harris &Co. Strategies for residential & commercial financing, retirement & estate protection 1010 Palm Canyon Dr # 247  PO Box 2089  Borrego Springs CA  92004-2089 877-299-5760 | Fax 760-767-3000 California Real Estate Broker License # 622796  &   Life Insurance License # 0B41500

The first person to call 877-299-5760 will receive a FedEx with the full prospectus and a 3 day hold to provide time to study the file, drive the property and the comps, and meet the borrower if desired.

If after review they decide to pass, they are asked to return the package in the FedEx envelope provided. The package will then be sent to the next caller.

Only if you are new to our program, please fill out the form below and mail or fax to 760-767-3000 and be included in our distribution list. Flyers are e-mailed to the list when they are posted on our Web site.

Information is treated with 100% confidence. In 30 years we have never revealed the name of an investor except as required in a loan escrow. We are proud of these relationships, yet never are they revealed.