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TITLE:
$1.5M 8% NOTE BACKED BY 7 UNITS AND LIQUOR STORE
TYPE:
To be created
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CONTROL:
Owner
PRICE:
$1,500,000
FACE VALUE:
$1,500,000
BALANCE OWING:
$1,500,000
MONTHLY PAYMENT:
$10,000
ANNUAL PAYMENT:
$120,000
INTEREST RATE:
8.00%
ORIGINATION DATE OF NOTE:
Aug 1, 2025
MATURITY DATE OF NOTE:
Jul 31, 2030
HAVE:
$1.5M 8% note backed by $2.2M of property in Manitou Springs. A 7-Plex and a Liquor Store.
CAN ADD:
$3M of residential lots in Manitou Springs.
NOTE COLLATERAL INFORMATION
TYPE OF COLLATERAL:
Building
LOCATION:
Manitou Springs, Colorado
RECORDED LIEN POSITION:
1st
INSTRUMENT OF SECURITY:
Deed of Trust
PERSONAL GUARANTEE?
Yes
COLLATERAL VALUE:
$2,200,000
COLLATERAL ANNUAL EXPENSES:
$24,058
COLLATERAL NOI:
$107,000
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs,
Colorado,
80829
