As of 6/30/16:
• Second quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 57
• Gross loan portfolio dollars: $33,804,804 (68.10% in 1st and 31.90% in 2nd position)
• Average loan-to-value: 47.12%*
• Average loan amount: $593,067
*calculated when loans are initially funded
Our featured property this quarter is located at 7 Heuters Lane in Mill Valley, California. This two-story single family home is 4,134sqft and sits on a 27,030sqft lot. The house features 4 bedrooms and 4 bathrooms, striking architectural details, an open floor plan, and includes a detached studio. First build in 1895 and locally known as Eagle Cliff, this property is set on a sun-drenched lot with full Mount Tam views and a private path to downtown Mill Valley.
Our borrower had a previous loan with us that performed and paid off. He has a successful business and was looking for a business line of credit to be secured against his residence. He owed about $2.2 million on his 1st mortgage. We provided him with a line of credit for $1 million in 2nd position against his home, which is valued at $5.2 million. Given his strong business track record, excellent credit, and great financial profile, we think this is a good loan for the portfolio at 65% total loan to value.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|