Cash Out Refinance On Luxury, Atlanta Home
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The loan centers on a nearly 9,000-square-foot luxury home with 5 bedrooms and 9 bathrooms in an exclusive area of Sandy Springs, GA. This custom-designed residence showcases the finest in upscale living, with premium finishes throughout and ample amenities that appeal to high-end buyers. The borrower, a well-established developer, is currently financing the final stages of a speculative home in an adjacent high-end subdivision. For this project, he requires an additional $300,000 to complete the construction. To meet this need, he has proposed a $1.4 million first mortgage on his primary residence, which will pay off an existing $700,000 loan and advance funds for the construction.
Cash Out Refinance On Luxury, Atlanta Home Details
Structure
- Tax Document
- 1099-INT
- Offering Structure
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BPDNx
SENIOR BPDN - PROMISSORY NOTE SECURED BY COLLATERAL SECURITY AGREEMENTTHIS PROMISSORY NOTE IS SECURED BY THE ISSUER'S PLEDGE OF THE RELEVANT UNDERLYING COLLATERAL LOAN (AS DEFINED BELOW) TO THE LENDER (AS DEFINED BELOW) UNDER THE COLLATERAL SECURITY AGREEMENT AND PROMISSORY NOTE. HOWEVER, EXCEPT TO THE LIMITED EXTENT PROVIDED IN THE PROMISSORY NOTE WITH RESPECT TO THE UNDERLYING COLLATERAL LOAN, THIS NOTE IS NON-RECOURSE TO THE ASSETS, FUNDS AND ACCOUNTS OF YIELDI, LLC (THE "BORROWER", "COMPANY" OR "ISSUER") OR ANY OF ITS AFFILIATES, EMPLOYEES, AGENTS, STOCKHOLDERS, PARENTS, OR SUBSIDIARIES EXCEPT TO THE EXTENT OF THE VALUE OF COLLATERAL LOAN NET PAYMENTS ACTUALLY RECEIVED IN RESPECT OF THE UNDERLYING BORROWER LOAN.
Example Return on Investment
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Investment Amount:
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Annual ROI:
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Why We Like This Opportunity
Cash Out Refinance On Luxury, Atlanta Home Highlights
The loan centers on a nearly 9,000-square-foot luxury home with 5 bedrooms and 9 bathrooms in an exclusive area of Sandy Springs, GA. This custom-designed residence showcases the finest in upscale living, with premium finishes throughout and ample amenities that appeal to high-end buyers. The borrower, a well-established developer, is currently financing the final stages of a speculative home in an adjacent high-end subdivision. For this project, he requires an additional $300,000 to complete the construction. To meet this need, he has proposed a $1.4 million first mortgage on his primary residence, which will pay off an existing $700,000 loan and advance funds for the construction.
About the Neighborhood
Sandy Springs, GA, is one of the most sought-after residential areas in the Atlanta metropolitan region. Known for its blend of tranquility and accessibility, this prestigious suburb offers an ideal setting for luxury living while maintaining close proximity to Atlanta’s business and entertainment hubs. Sandy Springs features a range of high-end homes nestled amid lush, natural surroundings, making it a top choice for affluent families, executives, and professionals seeking privacy with easy access to the city.
Sandy Springs also serves as a major business hub, home to national and international corporations. With major companies maintaining offices here, the local economy is robust, and the job market is active. This unique combination of luxury homes, top-rated schools, natural beauty, and proximity to Atlanta’s core business areas makes Sandy Springs one of the most desirable locations in Georgia for high-quality suburban living.
Why We Like this Opportunity
The borrower is an experienced real estate developer with multiple completed projects and a solid track record. He has listed the property for sale and has current interest in the home’s sale, he expects to pay off this bridge loan quickly. Proceeds from the sale will fund the remainder of his speculative home project, demonstrating a clear path to loan repayment and future project completion.
The borrower plans to exit the loan by selling the property, which is actively marketed and receiving buyer interest. The sale proceeds will be directed toward repaying the loan and fully financing the remaining construction on the speculative home.
Experienced Borrower
The borrower is a successful real estate investor in high-end real estate industry in Florida. He’s sold multiple Florida homes for over $2M+ and has a high net worth and strong liquidity.
Personal Guarantee
The Loans are personally guaranteed by the borrower, spouse, and all principals in the LLC. Additionally, the Sponsor and/or Guarantor are obligated to contribute monthly payments to maintain a tax and insurance reserve. Failure to adhere to reserve contribution requirements would lead to the triggering of a debt service and operating expense/shortfall guarantee.
Upfront Reserve
The Loan is structured with interest reserve for further protection. 12 months of debt service payments will be collected at closing.Investment Summary Of Cash Out Refinance On Luxury, Atlanta Home
Investors have an opportunity to invest in borrower payment dependent notes, the cash flow of which is dependent on the payment of interest and principal repayment on the Loans. Investors are scheduled to receive an annualized monthly interest payment of Login for details over the Loans' estimated remaining term of 12 Months. Principal is expected to be returned on or before maturity through a refinancing with a traditional bank loan. It is important to note that the Loans are eligible for prepayment, and principal may be repaid prior to the 12 Months estimated remaining term. If the Loans are paid off before maturity, investors are expected to receive at least three months of interest payments in addition to return of principal.
How Do I Get Paid?
This loan had an initial term of 12 Months with an option at Yieldi's discretion to extend. As of December 30, 2024 there are 12 Months remaining. Investors will immediately receive monthly interest payments at an annualized rate of Login for details on the principal balance over the life of the loan. If you invest in this loan in the middle of a month, you will receive a prorated interest payment for your investment for your first investment month and then full monthly payments thereafter. All payments are made automatically via ACH on the 1st of each month and investors all paid by the 10th of the month.
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