Very successful business owners sought a $570,000 2nd Trust Deed business purpose cash-out loan on this owner-occupied SFR in the coveted neighborhood of Ranch Santa Fe, San Diego County, CA. Husband is the President of ChemDirect a business consulting firm and Stanford Business School Graduate. Wife is the owner of Ashley David Design; a successful workspace design firm in the Bay Area. 100% of this loan’s proceeds will go towards expanding the design business into the Southern California markets by hiring staff and securing a warehouse for design Headquarters in Southern region.
The borrowers’ 1st mortgage has a principal balance of $2,870,000 with a fixed interest rate of 4.75%, maturing August 2051 and a payment of $11,360/mo. The first lender impounds for taxes and insurance. This loan offers $2,250,000 gross investor equity protection on a recent BPO value of $5,690,000.
The subject property is a contemporary styled, two story SFR “estate” with separate two-story guesthouse in great condition featuring a total of 6,772 SF living space, sitting on a 2.43 acres lot within the desirable west side of Rancho Santa Fe Covenant neighborhood. The main house is 5,572 SF with a 1,200 SF two story guesthouse. The subject property in total consists of 13 rooms, 6 Bedrooms / 7 bathrooms; also featuring an in-ground pool & spa, gazebo, game room, den, wine room, gym and detached 3,285 SF building equipped with a 12-car garage.
The subject is very well located near schools, the Fairbank Ranch Country Club, the Rancho Santa Fee Golf Club, Solana Beach, Del Mar and many shopping, entertainment, restaurants and recreational areas. The subject property is just east of the 5 FWY.
What we like about this Trust Deed opportunity:
- Successful business owners
- SFR estate in great Rancho Santa Fe, San Diego County location
- Borrowers cash liquidity shown in bank statements
- 11.50% Lender Rate
- $2,250,000 Investor Equity Protection
- 6 months Prepaid Interest
- 6 months Guaranteed Interest
$570,000 2nd TD @ 11.50%, 60.46% CLTV, SFR, CO, OO, $57,000 Min Investment, Rancho Santa Fe, CA
