Repeat MVI borrower, very experienced 25 years developer and general contractor is sought a 2nd Trust Deed to pay off an existing, in good standing MVI $1.15M 2nd TD and the balance placed in Funds Control to complete this newly renovated 3 level, ocean-view SFR investment property in Capistrano Beach, Orange County, CA. Borrower is refinancing existing MVI 2nd TD to pull out an additional $150K cash out from original budget for higher end kitchen appliances and built in water fountain and fire features added into landscaping. Borrower on track to list property for sale within 6 months. This loan offers investors 6 months guaranteed interest on their investment.
The borrower’s $923K 1st TD is current and in good standing with a 2.50% fixed rate, a low monthly P&I payment of $3,684, maturing January 2052. 1st TD Lender impounds taxes and insurance. Exit: Sale of Property. This loan offers $1,683,502 Net Investor Protective Equity off a new as complete Appraised Value of $4,050,000. 3rd party feasibility report supports funds control is sufficient to complete remaining budget.
The subject property is a 3 story, ocean-view, contemporary style, SFR on a quiet corner lot, with 6,408 SF living space sitting on 6,188 SF, overlooking Capo Beach from the hill in Dana Point, CA. The subject property sits on the corner lot at the end of a private street with only 10 homes. The subject property features 10 total rooms, 6 Bedrooms, 6.5 Bathrooms, 3 ocean-decks, a 3 car attached garage and two indoor fireplaces. The subject property is surrounded by similar SFRs in this quiet beach, suburban neighborhood. The subject property is very well located just minutes from popular Southern California beaches, near Pacific Coast Hwy, off the 5 FWY and surrounded by several shopping plazas, restaurants, schools and parks.
What we like about this Trust Deed opportunity:
- Repeat MVI Borrower, experienced developer and general contractor
- Brand New Contemporary SFR w/ Ocean Views, private, quiet street, beach town, Capistrano Beach (Dana Point)
- 2.50% Fixed Rate on 1st TD with small $3,884 monthly payment
- 13.00% Investor Yield
- CLTV: 60.09% / Net CLTV 58.43%
- $1,683,502 Net Investor Protective Equity
- 6 Months Guaranteed
- 6 Months Prepaid
- 3rd party feasibility report supports funds control is sufficient to complete remaining budget. Funds Control
$1,510,000 2nd TD @ 13.00%, NOO, SFR, 60.09% CLTV, $50,334 Min., Dana Point, CA
