Successful Mortgage Vintage borrower, CEO and long-time successful business owner (Burger Busters, Inc.), burgerbusters.com, sought a cash-out business purpose 2nd TD on this non-owner occupied property located in the exclusive gated Disney neighborhood of Golden Oak which was just recently featured in an article in the Wall Street Journal (Click Here to read the article). BurgerBusters Inc. currently owns and operates 82 Taco Bell restaurants; including 74 free-standing Taco Bell restaurants, 5 Taco Bell / Pizza Hut Express restaurants, and 3 Taco Bell / KFC restaurants. The Company generates over $140,000,000 in annual sales and employs more than 2,600 employees. See Borrower Bio here: https://theorg.com/org/burgerbusters-inc/org-chart/tassos-paphites
Borrower recently purchased the subject Florida Investment property in January of this year and the funds will be used to completely renovate the property. Borrower has put in $1 Mil. of his own cash into the remodel so far but needs an additional $600k from our loan to finish construction. The Cash Out will be used for immediate business related requirements.
The subject property is a 9,713 sf single-family residence located inside the exclusive Walt Disney gated golf community/resort (Golden Oak) and is near the Disney theme park with views of the nightly fireworks, shopping centers, and major roads/highways. The subject property consists of 12 rooms total with 5 bedrooms and 6.5 bathrooms. Amenities include fireplace, deck/patio, spa, and pool. The home offers a 4 car attached garage.
What we like about this 2nd Trust Deed opportunity:
- 15.75% yield to the Investor
- Successful previous Mortgage Vintage borrower
- Successful business owner
- Exclusive gated Disney Neighborhood in Orange County, FL
- 60.00% CLTV, 52.41% Net CLTV
- Funds Control of $600k to complete the rehab
- Borrower has put in over $1 Mil. to the rehab so far
$1,140,000 2nd TD @ 15.75%, 60.00% CLTV, SFR, CO, NOO, $57,000 Min Investment, Orlando, Florida
