Real estate investor and business owner sought a 1st TD business purpose cash-out loan on this non-owner occupied SFR investment property in Anaheim, Orange County, CA. Funds from our loan will be used to pay off an existing 1st TD that is in default and the subject property is in foreclosure. The balance of the funds will be used to purchase new business software and a consumer lead database for borrower’s mortgage brokerage company in order to increase revenue for business.
The subject property is a traditional style, two story, SFR with 2,621 SF of living space on a 9,664 SF lot. The subject property has a total of 8 rooms, 4 Bed / 3 Bath and an attached 2 car garage. The SFR subject property is fully occupied. Tenant pays $3,000 mo./rent. The subject property is in a desirable suburban neighborhood, well located south-west of the 5 FWY, near many local schools, shopping, grocery stores and restaurants.
What we like about this Trust Deed opportunity:
- SFR Investment Property
- Existing $3,000 monthly rental income
- 6 months guaranteed interest
- 3 months prepaid interest
- 65.00% LTV and 63.29% Net LTV