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
Real estate investor, 684 credit score borrower and full time wage earner with over 13 years at current employer as a medical assistant was seeking a cash-out 2nd TD on this non-owner occupied Santa Ana property. Loan proceeds will be used to make upgrades and repairs to the subject property.
The subject property is a single-story, bungalow style SFR sitting on a 5,508 sqft lot in Santa Ana. The home is 673 sqft with 5 rooms and 2 bedrooms and 1 bath with a 1-car attached garage. The property is conveniently located near I5 and 55 HWY as well as parks, recreation, shopping, schools, restaurants and medical facilities. Subject property rents for $2,250 monthly.
Recent Transaction – $79,000.00 Business Purpose Cash Out Re-Fi, Santa Ana, CA
Recent Transaction – $260,650 Business Purpose Purchase, Santa Ana, CA
Previous successful Mortgage Vintage borrower and experienced fix and flip professional was seeking a business purpose 1st Trust Deed to purchase this HUD owned Santa Ana property. Borrower owns multiple investment properties in and around Santa Ana in Orange County.
Subject Property is a single-story, 3 BR / 1 BA ranch style SFR in Santa Ana, CA. The home has 1,200 sf of living space and is situated on 5,280 sf lot. Property features bonus room, eat-in kitchen, back yard and fruit trees. This home is in a well established neighborhood and is conveniently located to all public services including: schools, shopping centers, banks, restaurants, places of worship, parks and medical offices.
Recent Transaction – $200,000 Business Purpose Purchase, Santa Ana CA
Previous successful Mortgage Vintage borrower and experienced fix and flip professional was seeking a business purpose 1st Trust Deed to purchase these 2 properties in Santa Ana. Borrower is a successful home builder and Realtor in Santa Ana and owns multiple investment properties in Orange County.
3506 & 3510 5th Street are 2 separate parcels and are being sold together. This is an Infill opportunity in Santa Ana consisting of 2 adjacent lots totaling 11,069 Sq. Ft. Borrower plans to convert the existing unit into a Duplex and construct another duplex on the adjacent lot. Rental… extra income from Billboard sign lease, $2,800/Year now until 2026 * There is alley in the back of the properties providing driveway access to the new properties. Zoned SP2.
Recent Transaction – $75,000 Business Purpose, Santa Ana, CA
Good credit score borrowers were seeking a Business Purpose Cash-Out loan to acquire an Orange County single family residence investment property in Tustin.
Front unit has 4 bdrm / 2 ba, back unit has 2 bedrooms and 1 bathroom. There is a studio between the 2 units with kitchen and bathroom. Rents for the two back units are $1,500 for the studio and $2,500 for the 2 bdrm. Property is located in a well established neighborhood near all public services, and easy access to the freeway.
Good credit Real Estate Investor looking to cash – out to fund continued construction of multiple single family homes for a real estate investment project in Anaheim. Borrower purchased subject property in 2011 and currently operates California Team Realty office out of the space. Borrower is an experienced fix and flip investor and developer.
Borrower improved the subject property and added many built-in features to the desirable corner unit.
Recent Transaction – $390,000 Business Purpose, Santa Ana, CA
Borrowers were seeking a business purpose cash-out refinance 2nd Deed of Trust for this owner-occupied property to invest in his Munoz Direct Push business. The subject property is a SFR with 3 bedrooms, 1 bathroom, 1,450 sf living area, 6446 sf lot size, and was built in 1955. Subject appears in average to good condition overall with no exterior or interior repairs noted at the time of inspection. Per MLS notes, subject property was remodeled in 2011. Subject property has covered patio and built-in BBQ on the back yard. Subject faces to busy street. 5% of the market is driven by short sales, REO is 1%. All comps are located in similar market area.
Recent Transaction – $60,000 Business Purpose, Santa Ana CA