Successful real estate investor, business owner and repeat MVI borrower sought a $1,000,000 2nd Trust Deed business purpose cash out refinance loan on this owner occupied, SFR estate located in the desirable high-end “Brentwood” neighborhood, bordering Bel Air and Pacific Palisades in Los Angeles, CA. The purpose of this loan is to pay off an existing and in good standing $540K 2nd TD business purpose loan that is maturing; $300K will be used to invest in future investment real estate transactions to add on to borrower’s existing RE portfolio and the remaining funds in 6 months of prepaid interest. Primary family residence for 23 years.
The borrowers’ 1st mortgage is current and in good standing with a principal balance of $4,883,578 on a 3.725% fixed interest rate, maturing July 2051. 1st TD monthly payment is $27,491/mo. The lender impounds for taxes and insurance. Investor Net Equity Protection on this loan is $4,138,860. Full appraisal in investor dropbox for $8.1M from May 2021.
The subject property is a beautiful, contemporary 2-story SFR estate located in the popular “Brentwood” neighborhood of Los Angeles, bordering Bel Air, Pacific Palisades and Westwood, near UCLA and the Getty Museum. The subject property has a total of 6,454 SF living space located on a .45 acres lot. The subject property features a total of 11 rooms with 6 Bed / 6.5 BA, a bar, den, office and formal sitting areas. The subject property also features very well-groomed front, back and side yards with an indoor pool, BBQ area and 3-car attached garage. The subject property is very privately insulated with two separate private gated entrances, a horse-shoe driveway and the subject property is encapsulated by tall, mature hedges.
The subject property is well located surrounded by similar SFR luxury estate homes, many local private and public schools, luxury hotels, shopping and entertainment. The subject property is just off the 405 FWY, east of PCH and north of the 10 FWY.
What we like about this Trust Deed opportunity:
- Successful real estate investor, business owner, repeat MVI borrower
- Beautiful SFR Estate in desirable Brentwood neighborhood, Los Angeles, CA
- 14.00% Investor Rate
- Net Investor Equity Protection: $4,138,860
- 15 months Guaranteed Interest
- 6 months Prepaid Interest
