Investment Bulletin


Loan Number: 993
Loan Amount:
$156,000.00
Type: First Trust Deed
Yield: 12.0%

**** For Instructions on How to Invest in this Loan ****


TERMS

Terms of Investment . . . . . . . . . . . . 60 months
Current interest rate . . . . . . . . . . . . . . . .12.0%*
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N/A
Spread over the index . . . . . . . . . . . . . . . . N/A
Frequency of rate changes . . . . . . . . . . . .N/A
Interest rate ceiling. . . . . . . . . . . . . . . . . . . N/A
Interest rate floor . . . . . . . . . . . . . . . . . . . . N/A
Discount points to the lender . . . . . . . . . .N/A
Repayment schedule . . . 15 year amortization
Monthly payment . . . . . . . . . . . . . . . $1,872.26*
Frequency of payment change . . . . . . . . .N/A
Purchase price of the note . . . . . . . . .$156,000
Current balance on the note . . . . . . . $156,000
Maturity date . . . . . . . . . . . . . . . . . . . . . .60 mo.
Balloon payment after 60 mos. appr. $135,181
Late charge amount . . . . . . . . . . . . . . . $217.27
Prepayment penalty . . . . . . . . . . . . . . . . .None
*Net of servicing costs

EQUITY ANALYSIS

Appraised Value as of June 29, 1998 . . . . . . .$241,000
Less Senior Liens
First trust deed of . . . . . . . . . . . . . . . . . . . . . . . . . . $
Beneficiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P&I payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %
Matures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Second trust deed of . . . . . . . . . . . . . . . . . . . . . . . .$
Beneficiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P&I payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %
Matures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Third trust deed of . . . . . . . . . . . . . . . . . . . . . . . . . .$
Beneficiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P&I payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %
Matures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Protective equity . . . . . . . . . . . . . . . . . . . . . . . . . . $85,000
Loan-to-value ratio . . . . . . . . . . . . . . . . . . . . . . . . 64.7%

PROPERTY

Project: PARK HEIGHTS DENTAL

Property address: 5418 Park Heights Ave., Baltimore, MD 21215

Description: The subject property consists
of a one-story, wood frame and brick exterior.
The building is currently used as a dental office.

OPERATING STATEMENT

INCOME
Rental Income . . . . . . . . . . . . . . . . . . . .$34,801
Laundry and Other Net Income . . . . . . . .N/A
. . . . . . . . . . . . . . . . . . . Total Income: $34,801
Less   5% Vacancy Allowance . . . . . . . .1,740
. . . . . . . . . . .Effective Gross Income $33,061

EXPENSES
Gas and electric . . . . . . . . . . . . . . . . . . . . .
Insurance . . . . . . . . . . . . . . . . . . . . . $1,606
Mgmt. offsite . . . . . . . . . . . . . . . . . . . 1,653
Gardner . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Repairs & maint. . . . . . . . . . . . . . . . . . .992
Salaries & Payroll . . . . . . . . . . . . . . . . . . . .
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . .3,991
Payroll Taxes. . . . . . . . . . . . . . . . . . . . . . . .
Gardner . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reserves for replacement . . . . . . . . . . . . .
Legal & Audit . . . . . . . . . . . . . . . . . . . 661
.
. . . . . . . . . . . . . . . . Total Expenses:   $8,903
NET OPERATING INCOME . . . . .$24,158
Note: Based on appraiser's estimates.

BORROWERS

Name(s). . . . . . . .General Partner
Net worth . . . . . . . . . . . .$699,136
His occupation . . . . . . . . Dentist
Employer . . . . . . . . . . . . . . . . Self
Employment income. . . $260,000
Her occupation . . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income. . . . . . . . . .
Other income. . . . . . . . . . . . . . . .
Percent ownership . . . . . 100.0%
Name(s). . . . . . . . . . . . . . . . . . . .
Net worth . . . . . . . . . . . . . . . . . .
His occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income . . . . . . . . .
Her occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income. . . . . . . . . .
Other income. . . . . . . . . . . . . . . .
Percent ownership . . . . . . . . . . .
Name(s). . . . . . . . . . . . . . . . . . . .
Net worth . . . . . . . . . . . . . . . . . .
His occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income . . . . . . . . .
Her occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income. . . . . . . . . .
Other income. . . . . . . . . . . . . . . .
Percent ownership . . . . . . . . . . .

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PARK HEIGHTS DENTAL

 

 

 

If you would like to talk to our investment department, please contact John Caldwell or Mike Thurman
at 916-338-3232 or 800-606-3232 between the hours of 8:30 a.m. and 5:00 p.m. PST Monday--Friday.

Please read our Audited Financial Statements of Blackburne & Brown, Inc.

Real Estate Broker
California Department of
Real Estate -- License Number 829677

Copyright © 1999 Blackburne & Brown Mortgage Company, Inc. All rights reserved.

None of the Above Non-resident Qualifications Not a California Resident California Resident