Call for Current Investments
(858) 560-6555
Fill Out Our Form for Current Investments
Required *
Federal Trust Deed | Available Trust Deed Investments - Premium Golf Course Lots near Chattanooga, TN
FUNDED!
LOANS:
#7046; Parcels 13 and 19 (.21 acres and .32 acres)
#7047; Parcels 14 and 20 (.21 acres and .52 acres)
#7048; Parcels 15 and 21 (.22 acres and .53 acres)
#7049; Parcel 27 (.19 acres)
SUBJECT PROPERTY: Clubhouse Drive in the Private Residence Club of Canyon Ridge in Dade and Walker Counties, Georgia (click here to view location map).
BROKER'S OPINION OF VALUE: $300K each for loans 7046, 7047 and 7048; $150K for loan 7049
APPRAISED VALUE: $275K for Lot 13 (view lot 13 appraisal); $350K for lot 21 (view lot 21 appraisal)
LOAN TERMS
LOAN AMOUNT FOR 7046/47/48: $100,000.00 each
LOAN AMOUNT FOR 7049: $50,000.00
POSITION: 1st
INTEREST: 11%
TERM: 24 mos
LTV: 33% of Broker's Opinion
There is a late charge of 10% of the payment (after 10 days)
There are no prepayment penalties on these loans
These loans contain a balloon payment
LOAN AMOUNT FOR 7046/47/48: $100,000.00 each
LOAN AMOUNT FOR 7049: $50,000.00
POSITION: 1st
INTEREST: 11%
TERM: 24 mos
LTV: 33% of Broker's Opinion
There is a late charge of 10% of the payment (after 10 days)
There are no prepayment penalties on these loans
These loans contain a balloon payment
SPECIFICS: Parcels 13, 14 and 15 face the driving range
Parcels 19, 20 and 21 face the 17th fairway
Parcel 27 faces the 18th fairway
Click here to view plat map
The security for these loans consists of golf course-front residential lots located in the Canyon Ridge Country Club development on Lookout Mountain in Northwestern Georgia. This premier development is within a well-known recreational region that is located just south of Chattanooga, Tennessee, and is easily reached from three major metropolitan areas: Atlanta, Birmingham and Nashville.
The developer has reserved the funds necessary to complete the infrastructure to these lots, and as further security, an additional $140,000 ($20,000 per lot) is being set-aside to insure that the improvements are completed and paid.
The course itself is complete, mature and playable with numerous existing homes, cabins, town-homes and villas built around the private gated community. The experienced developer plans to build the permanent clubhouse very near the subject lots and has permanent financing in place for the construction of a four-star hotel to be built at the club.
