New Castle, PA
Single Family Home
|
Acquisition Loan
Please note that this investment is now closed. Information below is for historical purposes only.
This recorded 1st position mortgage investment was originated in January 2022 with a Term of 36 Months, and a Target Return of 9.74% p.a.
The loan was used to acquire and renovate a single family home located around 50 miles north of Pittsburgh, in New Castle, PA for the purposes of using the property as a non-owner-occupied long-term rental.
The Investor received monthly interest payments throughout the term of the loan, and the loan was supported by a 1st position mortgage secured against the Security Property.
The loan was repaid earlier than scheduled in September 2023 (after 20 months) with the Investor receiving a higher return than the Target Return.
Review the details for this Loan below, and to access currently available performing mortgage and private money lending investments, click View Open Investments below.
Basic Investment Details
Investment
$44,500
Asset Type
Monthly Gross
$20
Monthly NET
Cap Rate
65%
Projected ROI
Investor Feedback
“As retirees, passive income is most important for us. We have invested in quite a few loans with Garnaco with our family trust, a number of which have been paid back already. We continue to invest with confidence"
