Successful repeat Mortgage Vintage borrowers sought a $200k business purpose 2nd Trust Deed loan on this non-owner-occupied investment rental SFR in Dana Point, Orange County, CA. The use of funds from our new loan will be applied towards minor upgrades to subject property as well as other investment properties borrowers own.
Borrowers’ existing and in good standing 1st TD has a principal balance of $546K with a 4.375% rate, 30-year term maturing in Feb. 2050. Exit Strategy: conventional refinance.
The subject property is a traditional, 2 story SFR investment property very well located in the heart of Dana Point, Orange County, CA. The subject property consists of 4 Bed / 2 Bath with 2,074 SF of rentable living space, sitting on a 0.1 acres lot. The subject property features a fireplace, large deck, and backyard. Subject property is fully occupied earning $6,000 per month with a lease agreement expiring in December 2024. Subject property is very well located just off PCH, near Dana Point Harbor and many schools, restaurants, shopping and entertainment.
What we like about this Trust Deed opportunity:
- SFR investment property in popular Dana Point, California Beach Community
- Successful Repeat MVI borrowers
- 11.00% Investor yield
- Gross Protective Investor Equity: $889,000
- 12 Months Prepaid Interest
- 6 months Guaranteed Interest
