Real Estate Investor & W2 Wage earner sought a cash-out 2nd TD on this non-owner occupied SFR in Santa Ana, Orange County, CA. The existing 1st TD is a conventional 30 year fixed with a balance of $291,000 and a 2.25% rate. The loan is current and in good standing and has a total PITI payment of $2,631.02/month and matures April 1, 2036. The exit strategy from our loan is a consolidated conventional refinance.
The subject property is traditional two-story SFR which sits on a 6,502 SF lot. The home consists of 1,643 SF and offers 8 total rooms including 4 BR/2 BA and an attached 2-car garage. The property is centrally located to schools, entertainment, restaurants, shopping, parks and medical facilities. The rental income is $4,200/month.
What we like about this Trust Deed opportunity:
- Non-Owner Occupied SFR Investment Property
- 12.50% annualized return
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
- $4,200 rental income
- Borrower is also W2 employee