Successful Mortgage Vintage borrower, long time successful business owners (Burger Busters, Inc.), burgerbusters.com, with a 740 credit score is seeking a cash-out business purpose 2nd TD on this owner occupied ocean front property located in the ocean side community of Monarch Bay in Dana Point. The funds will be used to invest into the Borrower’s BurgerBusters business.
The subject property is a stunning 2-story 4 BR / 4.5 BA, 4,263 sf home in a guard-gated residential neighborhood of Monarch Bay. This Ocean Front property sits on a 29,694 s.f. lot with incredible unobstructed ocean views to the west, north and south. There is a very limited number of homes that front the ocean, and those homes sell at a premium. The home has a 4 car detached garage with a driveway that will accommodate 4 cars. The home also offers a 2 bdrm 2 bath detached casita. Other features include: infinity-edged pool and spa, upgraded appliances, solar, firepit, water features, and all rooms have been recently remodeled. The property is within close proximity of award-winning schools, recreation, world-class beaches, shopping and restaurants with easy access to Pacific Coast Hwy.
What we like about this 2nd Trust Deed opportunity:
- Successful previous Mortgage Vintage borrower
- Successful business owner
- Stunning Monarch Bay location in Orange County
- 31.58% CLTV, 30.67% Net CLTV
- Subject property is beachfront
$3,000,000 2nd TD @10.25% Cash-Out 31.58% CLTV 24 Mos Term $93,750 Min Inv Irvine, CA
