Real estate investor, Genera Contractor and 15-year business owner was seeking a cash-out 1st TD on this non-owner occupied SFR in Orange County. Proceeds from this loan were used to complete the rehab of the subject investment property. The borrower runs a successful wall, sewer and cement construction company and will be using his team of tradesmen to complete the work. Borrower also owns another CTD offering at 27462 Silverado Canyon Rd in Silverado.
Subject property is a two-story SFR situated on a 4,500 sqft lot in Silverado. The subject was built in 1930 and is currently under rehab. Property has 1,393 sq ft of living space, canyon view with 2 bedrooms and 2 baths. The home features a patio and deck. Subject will be completed and move-in ready by Summer 2018. Market rent for this property is an estimated $2,800/month when completed. Funds Control of $50,000 will be used to ensure proper funds allocation.
Recent Transaction – $335,500 Business Purpose Refi, Silverado, CA
