Successful MVI borrower and real estate investor/flipper was seeking a business purpose purchase loan to fix-and-flip this SFR in Orange County. Borrower purchased property for $55,000 under BPO “As-Is” value.
Subject is a bi-level SFR sitting on a large 6,762 sf lot. The home is 1,831 sf and features 6 rooms with 2 BR and 1 BA, fireplace, deck and backyard. Property also features an additional building that was a restaurant and will be converted back into residential living space to maximize the property value and usability. Property has deferred maintenance which will be addressed during the rehab. Subject is conveniently located near I-5 and 55 fwy. Schools, shopping, restaurants, parks and medical facilities are all a short distance from property.
Recent Transaction – $384,000 Business Purpose Purchase, Santa Ana, CA
