TRUST DEED OPPORTUNITY

TRUST DEED INVESTMENT
OPPORTUNITY
13431 Acton Ave.
Poway, CA 92064
TaliMar Financial, Inc.
11440 West Bernardo Court, Suite 210
San Diego, CA 92127
Tel. 858.613.0111
Fax. 858.876.9471
Toll Free 888.868.3467
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
LIMITING CONDITIONS
This Private Lending Executive Summary (“Summary”) is intended for the use of the individual(s) or entity to
which it is addressed and may contain information that is privileged, confidential, and exempt from disclosure under
applicable law. Unauthorized use, disclosure, or copying is strictly prohibited and may be unlawful.
Summary has been prepared by TaliMar Financial, Inc. (“TaliMar”) for informational purposes only and does not
promise to contain all the information necessary for the Prospective Lender to reach a decision. The information
presented has been carefully prepared by sources considered reliable, however, TaliMar nor any of its affiliates
make any representation, express or implied, as to the accuracy, completeness or adequacy of any of this
information.
Summary is subject to change or withdrawal without notice and nothing contained herein should be relied upon as a
promise, recommendation or presentation as to the future. Each prospective lender is to rely upon their own
investigation, projections, and conclusions as to the advisability of the transaction.
TaliMar is acting in a broker and/or lender capacity in this transaction and has no direct relationship with the
Borrower.
For any additional information or questions regarding this transaction, lending with Trust Deeds, or TaliMar
Financial, please contact Brock VandenBerg at (858) 613-0111.
Regards,
Brock VandenBerg, President
TaliMar Financial, Inc.
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
TABLE OF CONTENTS
LOAN SUMMARY .................................................................................................................................... 4
PROPERTY INFORMATION ...................................................................................................................... 5
BORROWER INFORMATION ................................................................................................................... 7
SITE MAP................................................................................................................................................. 8
SITE PHOTOS ........................................................................................................................................... 9
LOAN INFORMATION ............................................................................................................................ 10
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
LOAN SUMMARY
Loan Amount:
$321,500
Loan to Value:
66.98% of After Repair Value ($480,000)
Position:
1st Trust Deed
Interest Rate:
10% Annually (net to investor)1
Monthly Payments:
$2,679.17 (net monthly to investor)2
Property Type:
NOO Residential
Property Location:
Poway, CA
Loan Type:
Fix & Flip
Loan Distribution:
Acquisition Funds
$262,000
80% of Purchase Price
Interest Reserve
$17,682.50
6 months
Renovation Funds
$41,817.50
59.74% of Project Costs
Total:
$321,500
Borrower:
Profin, Inc., a California Corporation
Payment Structure:
Interest only payments paid monthly. Balloon payment due at the end of the term.
Term:
12 months
Extension:
Option to extend 6 months at 1% of the loan amount at the full discretion of the
Lender.
Title Policy:
ALTA Extended Lenders Policy
Exit Strategy:
The borrower will refinance the loan with a construction loan. The lender will have the
option to participate in the takeout loan if interested.
Loan Servicer:
FCI Lender Services
Highlights:
1
2
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Actual note rate is 11%
Actual monthly payment is $2,947.08
Secured by First Trust Deed
Loan to After Repair Value – 66.98%
Experienced Borrower
Interest Reserve account established w/ 6 months of interest payments
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
PROPERTY INFORMATION
Purchase Price:
$327,500
Property Type:
Single Family Detached Residential Property
Property Address:
13431 Acton Avenue; Poway, CA 92064
Property
Description:
The tax records indicate that the property is 958 sf with 3 bedrooms and 1 bathroom.
The Subject property is in poor condition and will require substantial interior and
exterior renovations.
The surrounding neighborhood is residential with homes in superior condition.
Bed / Bath Count:
3 bedrooms / 1 bathrooms (per tax records)
4 bedrooms / 2 bathrooms (upon completion)
Property Sq. Ft:
958 square feet (per tax records)
1,500 square fee (upon completion)
Rehab Budget:
$70,000
Scope of Work:
The Borrower will complete a full interior / exterior renovation which will include the
addition of 500 square feet. The borrower will remove a wall between the existing
kitchen and the living room to offer a larger floor plan. The kitchen and existing
bathroom will be updated with modern cabinets and fixtures. The flooring will be
replaced throughout the interior. New paint will be applied on the interior and exterior
and landscaping installed throughout.
Year Built:
1960
APN:
323-134-04-00
County:
San Diego
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
MARKET DATA
Summary:
TaliMar Financial estimated a “As-Is” value of $480,000 using sales within the last 6
months and within a 3 mile radius of the property.
Address
City
State
Zip
Beds
Baths
SF
Sale Price
$ / SF
14556 Mirando
Poway
CA
92064
3
2
1,610
$520,000
$322.98
13486 Los Olivos
Poway
CA
92064
4
2
1,675
$500,000
$298.51
13533 El Mar Ave
Poway
CA
92064
4
2
1,502
$505,000
$336.22
4
2
1,596
$508,333
$319.07
1,500
$478,604
$319.07
Average
Subject Property
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
BORROWER INFORMATION
Borrower:
Profin, Inc.
Guarantor:
Santiago Orvananos
Cash Equity Funded:
$107,467 (estimate)
Borrower Credit Score:3
685
The Borrower’s credit score was negatively impact by the loss of several
development projects between 2007 and 2010. From 2010, the guarantor has been
working to fix his credit and has demonstrated a strong record of successful fix
and flip projects over the last 4 years.
Borrower Experience:
Prior Loans:
3
Borrower has substantial experience purchasing and rehabbing residential
properties throughout San Diego County. The following schedule provides an
overview the loans funded by TaliMar Financial to the borrower.
Location
Loan Amount:
Loan Type
Status
Encinitas, CA
$320,000
Bridge Loan
Current
Pacific Beach, CA
$485,000
Fix & Flip
Current
San Diego, CA
$387,000
Fix & Flip
Current
Ramona, CA
$133,000
Fix & Flip
Current
San Diego, CA
$133,000
Fix & Flip
Paid Off
San Diego, CA
$156,000
Fix & Flip
Paid Off
San Diego, CA
$180,000
Fix & Flip
Paid Off
San Diego, CA
$315,000
Fix & Flip
Paid Off
Credit Report will made available to lender(s) upon request
13431 Acton Avenue
Poway, CA 92064
SITE MAP
STREET LEVEL MAP
AREA MAP
December 4, 2014
TaliMar Financial, Inc.
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
SITE PHOTOS
Front of Home
Kitchen
Living Room
Garage
Bathroom
Backyard
13431 Acton Avenue
Poway, CA 92064
December 4, 2014
TaliMar Financial, Inc.
LOAN INFORMATION
Loan Amount:
$321,500
Position:
1st Trust Deed
Interest Rate:
10% (net to investor)
Monthly Payment:
$2,679.17 (net monthly to investor)
Interest Reserve:
$17,682.50 (6 months of interest payments)
Renovation Reserve:
$41,817.50
Payment Guaranty
Yes
Investor Security:
Recorded Assignment of Deed of Trust
Fractional Interest:
$50,000 minimum
Loan Servicer:4
TaliMar Financial, Inc. (master servicer)
FCI Lender Services (sub-servicer)
Prepayment Fee:
None
Late Payment Fee:
10% of payment due. 100% of fee to TaliMar Financial
Extension Fee:
1% of loan amount. 75% of fee paid to TaliMar Financial
Custodian of Loan
Documents:
TaliMar Financial, Inc.
Wiring Instructions:
To Be Provided
Additional Materials:
(available upon request)
4
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Property Report
Preliminary Title Report
Borrower Credit Report
Property Appraisal
Promissory Note
Deed of Trust
Assignment
Servicing Agreement to be signed with TaliMar Financial and FCI Lender Services