Successful business owners and real estate investors sought a business purpose cash-out 2nd TD on this owner occupied SFR in Dana Point, Orange County, CA. The funds from our loan will be invested into their business, Sidewinder Manager, LLC, which owns a 300 acre parcel of land on the East coast. The plan is to use the funds to entitle the large plot of land. The exit strategy from our loan is a conventional refinance down the line to combine both the 1st and our 2nd. The borrower recently acquired a new 1st Trust Deed and this is a 2nd behind that new favorable first TD.
The subject property is a beautiful custom built, multi-level traditional style home situated on the Dana Point hillside facing the Pacific Ocean. The home sits on a large 8,250 SF lot and boasts panoramic views of ocean. The total livable square footage is 5,091 which is comprised of 13 total rooms including 4 bedrooms, 6 bathrooms, a bonus room, a grand living room, large dining room and a total of three fireplaces. The home has an attached 3-car garage and a large backyard with a pool and two spas. The property is located in the Niguel Shores preferred oceanfront enclave and offers residents a resort-like setting with an ocean-view bluff, a park, 50 acres of scenic open space, and a clubhouse with sauna, junior Olympic sized pool and tennis courts.
What we like about this Trust Deed opportunity:
- Dana Point, Orange County location
- 10.50% annualized return
- 9 months Guaranteed Interest
- 24 months Prepaid Interest
- Successful business owners and real estate investors
