Real estate investor sought a business purpose cash-out 1st TD on this non-owner occupied SFR in Mission Viejo in Orange County. Our MVI loan paid off an existing 1st TD and private money 2nd as well as provide cash-out to cure a default on another investment property.
The subject is a 2 story contemporary home with 10 rooms and 5 BR/3.5 BA. The home is 4,253 sqft and sits on a 6,089 sqft lot. It features a fireplace, dining room, family room, living room and outdoor BBQ area. Property is centrally located near schools, shopping, restaurants, recreation and medical facilities. The 241 Toll Road and major avenues are nearby as is 5 freeway. Rental income is currently $4,600/month.