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Completed Debt
Residential
Edithia Single Family Rehab
Anaheim, CA
INVESTMENT STRATEGY
INVESTMENT TYPE
Debt
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100% funded
Offered By Centurion Capital
%* TARGET IRR 9.0%-%
* TARGET EQUITY MULTIPLE
Estimated Hold Period 6 to 12 months
Estimated First Distribution
*Please carefully review the Disclaimers section below, including regarding Sponsor’s assumptions and target returns
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Overview
Management

Centurion Capital

Centurion Capital, LLC is a real estate holding company based in Southern California, which focuses primarily on the Orange and Los Angeles county areas. The primary investment focus revolves around distressed properties, REOs, and short sales.Over the last 5 years, the founder of Centurion Capital, Darryl Owen, has been involved in over 100 rehab projects, personally rehabbing roughly 25 properties over the past 2 years.

Daryl Owen is also the founder and CEO of an affiliate brokerage company, Nationwide Real Estate Executives, which operates with approximately 300 sales associates. The brokerage handles a large volume of buyer transactions, giving it a unique advantage to the investments serviced by the team.

  • Daryl & Randi Owen
Daryl & Randi Owen

Daryl and Randi Owen take pride in their energy and passion for the real estate industry. Daryl is a licensed California real estate broker, and is the founder and CEO of Centurion Capital, LLC as well as its affiliate broker company, Nationwide Real Estate Executives. He has cultivated success by identifying the needs of a changing real estate marketplace and  implementing systems and solutions designed to consistently meet those needs. He focuses his time on strategic growth and real estate investing. Daryl attributes his passion and attention to detail to his success in the real estate investment industry.

Track Record

Business Plan
Property

At A Glance

Property Type: Residential, Single-Family
Investment Type: Loan Purchase*
Estimated Return: 9% annualized
Loan Term: 12 months
Location: Anaheim, CA
   
Purchase Price: $345,000
Loan Amount: $310,000
Current After Repair Value: $433,000
Est. Loan to After Repair Value: 72%

Summary

The borrower, Centurion Capital, ​is obtaining a loan for the purpose of a rehab. Centurion Capital is performing renovations on the property and will look to sell as quickly as possible at a higher price than the purchase price. Renovations typically include new paint, new carpet, system, plumbing and electrical upgrades, landscaping, interior repairs, and general clean up items. Upon completion, the property will look like other renovations that Centurion Capital has completed. 

Investors will receive interest payments of 9% with a final balloon payment at the end of the loan term. The security interest for the underlying borrower loan is a deed of trust secured by the property in first position.*

Realty Mogul will escrow 100% of all anticipated rehab costs ($35,000), which will only be released to the borrower after completion of the rehab work.

There is a three (3) month prepayment penalty associated with the loan. Any proceeds received from the prepayment penalty will be paid to the investors. For details on the prepayment penalty see the attached Series Note Listing.

Risk Factors**

  • Forward-Looking Statements: Investors should not rely on any forward-looking statements made regarding this opportunity, because such statements are inherently uncertain and involve risks. We use words such as “anticipated,” “projected”, “forecasted”, “estimated”, “prospective”, “believes,” “expects,” ”plans” “future” “intends,”, “should,” “can”, “could”, “might”,“potential,” “continue,” “may,” “will,” and similar expressions to identify these forward-looking statements.
  • Market Risk: Investments related to mortgages secured by real estate are subject to market valuation risks that may be caused by changing economic and local market conditions. The property underlying the corresponding borrower loan is expected to have reasonably acceptable loan-to-value ratios and to meet certain other valuation criteria, but estimated values made when the loan is originated may not fully represent current market values, and subsequent market values will in particular be affected by changing economic or local market conditions. Such conditions are beyond the control of Realty Mogul and of the corresponding borrower on this loan. Such conditions may change due to factors such as local real estate market conditions, prevailing interest rates, the rate of unemployment, the level of consumer confidence, the value of the U.S. dollar, energy prices, changes in consumer spending, the number of personal bankruptcies, disruptions in the credit markets and other factors.
  • Credit Risk: The borrower loan is being made with respect to a property that is in need of repairs, a situation that does not generally meet the financing criteria for conventional mortgages from institutional sources. Credit risk is inherent in the mortgage lending industry, and there can be no assurance that the credit worthiness of the borrower will be sufficient to assure the full repayment of the underlying borrower loan.
  • Insurance Risk: The borrower will maintain insurance of the kind that is customarily obtained for similar properties, but is not expected to carry certain disaster-type insurance (covering events of a catastrophic nature, such as earthquakes). In the event that an uninsured disaster should occur to the real property underlying the corresponding borrower loan, or in the event a borrower does not maintain the required insurance and a loss occurs, Realty Mogul could experience difficulty recovering the principal amount of the corresponding borrower loan and any interest due thereon.
  • Illiquid Investment - Transfer Restrictions & No Public Market: The transferability of these securities are restricted by the terms of this offering and by U.S. federal and state securities laws. In general, investors will not be able to sell or transfer their interests. There is also no public market for the securities and none is expected to be available in the future. Persons should not invest if they require any of their investment to be liquid. This is particularly important for persons of retirement age, who should plan carefully to assure that their assets last throughout retirement.

Risk Mitigation**

  • There is a personal guarantee on the underlying borrower loan.*
  • The security interest for the underlying borrower loan is a deed of trust.*
  • The underlying borrower loan is protected by title insurance.*
  • The underlying property is protected by hazard insurance.*
  • Investor returns are not contingent on the appreciation of the property value and investor returns do not increase based on any resale price. The borrower is still obligated to repay the corresponding borrower loan.
  • In a worst case scenario, a foreclosure of the property is possible. Proceeds would be distributed to investors according to the percentage of the total investment opportunity initially funded net of any expenses incurred for the foreclosure proceedings. 

*An investment in this loan will be made through a borrower dependent payment note issued by Realty Mogul. This promissory note is dependent on payments that Realty Mogul receives on the underlying borrower loan. While the underlying borrower loan is secured by legal title on real estate, the borrower dependent payment note is not itself secured nor does it have a personal guarantee. 

**The above is not intended to be a full discussion of all the risks of this investment. Please see the Risk Factors in the Investor Document Package for a discussion of additional risks.

Location

The City of Anaheim is located within Orange County in Southern California, roughly 25 miles from downtown Los Angeles. The City of Anaheim has an estimated population of 335,000 residents and supports a thriving business community with companies such as Disneyland Resort, Carl Karcher Enterprises, INc., L-3 Communications and Pacific Sunwear and a County unemployment rate of 5.7%. Anaheim is also home to several successful sports franchises including the Anaheim Ducks and Los Angeles Angels of Anaheim. Annually, Anaheim welcomes millions of visitors to the city, many of which come to the Anaheim Convention Center, which is the largest on the west coast.

Anaheim has 74 public schools and several nearby Colleges and Universities including California State University of Fullerton, Chapman University and University of California Irvine. Per the 2010 Census the median home price in Anaheim was $333,000.

The property is located in a suburban neighborhood in Anaheim comprised primarily of single family homes. It is in relatively poor condition relative to other homes nearby that are of similar age and size, providing for a potentially significant value add opportunity through repairs and cosmetic upgrades. Several of the nearby properties have recently sold at an average price of $400,000 in the past 6 months.  The property location is particularly appealing due to it being walking distrance to several schools (elementary, junior high and high school) and several public parks. The property is also located only 3 miles from Disneyland and the Interstate 5 Freeway.

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Financials
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Disclaimers/FAQs
Disclaimers

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