Tahoe Vista, CA

$750,000

Single Family Residence

Purchase

04/07/2020
Transaction by
The Brookline Group
The Brookline Group, a direct private money lender, provided a $750,000 1st mortgage for the purchase of a residential investment property in Tahoe Vista, California. The purchase price was $1,550,000 and the borrowers put down 52% in cash. They plan to furnish the home and make it a short-term rental. Tahoe Vista is a census-designated area located on the north shore of Lake Tahoe in Placer County. It attracts many visitors, and there is always a demand for large vacation rentals. The property is on the lake, in the Agate Bay community, consisting of 1,600 square feet with 3 bedrooms plus a bonus separate studio apartment over the 2-car garage. All 3 bedrooms have a view of Lake Tahoe. There is also a lakefront deck and 2 buoys for docking boats. The borrowers were represented by a mortgage broker who had a prior relationship with us. Brookline provided the funds very quickly for a timely closing in April 2020. The loan term is 12 months, and the borrowers plan to refinance with a conventional loan to pay off our private mortgage.