Business owner sought a business purpose cash-out 2nd TD of this owner occupied SFR in Orange County. Proceeds from this loan will be invested into the borrower’s interior design business.
Our subject property is a beautiful two-story SFR located in Newport Coast and sits on a 11,151 sqft lot. The subject was built in 2001 and has 3,435 sqft of living space with 8 total rooms – 5 bedrooms, 3.5 baths and 3-car attached garage. The home is located at the end of a cul-de-sac in a gated community in Newport Coast. There have been a number of upgrades to the property which include new cabinetry in the kitchen, closets and garage. New limestone flooring and carpets throughout, New AC units and water heater, and a new front gate. The subject property has one of the largest lots in the community with a pool, spa, and a large grassy area. The property is located just southwest of the 73 Toll Road, near schools, restaurants, shopping, recreation and medical facilities.
What we like about this Trust Deed opportunity:
- 10.50% Annual Yield
- Strong Credit Score
- Orange County location
- 9 months Guaranteed Interest
$810,000 2nd TD @10.50%, 65.56% CLTV $40,500 Min Inv., Newport Coast, CA
