Real estate investor and previous successful Mortgage Vintage borrower sought a business purpose 1st TD to payoff an existing 1st TD and cash-out to complete the rehab of this SFR in Corona, CA in Riverside County. The exit strategy from our loan is the sale of the property.
At completion of the rehab, the subject property will be a 1,687 SF ranch style home with 7 total featuring 4 BR / 2 BA and sitting on a large 13,068 SF lot. Borrower has a remaining rehab budget of $41,275 of which we will be holding $15k in funds control. The subject property is near shopping, schools, restaurants, parks and medical facilities. The property has easy access to major streets and freeways 91 and 15 are just a few minutes away.