We specialize in California private hard money loans. A lot of what we do does not fit in a traditional box. Clients often come to us when they have had issues obtaining financing elsewhere. Due to this, we do a lot of California private hard money loans for unique situations.
Many of these transactions end up with funding that is tailored to the specific situation. Today I wanted to look at a few specific examples of unique California private hard money loans we were able to structure and get funded when other more traditional financing options were not able to help.
The first scenario we will look at is a San Diego hard money fix and flip loan we funded. While fix and flip loans are not uncommon, this one was a unique situation as the borrower needed 100% financing. Getting true 100% financing is difficult in many cases, but in this scenario we were able to put together two loans with guys we know in the San Diego area due to their locality to the property in addition to the profitability of the transaction.
The first loan was structured as a typical fix and flip loan. It was straight debt, so the borrower was paying interest only on that loan amount. The second loan was made by the same guys, and was structured as an equity loan rather than debt. So essentially the borrower was bringing on partners, with whom he shared the profits with once the property was rehabbed and sold. Our client was able to move forward on a profitable flip, and our investors were able to share in the profits.
The second out of the box scenario is an Oakland 80% LTV hard money refinance loan. Typically with hard money, a refinance is going to cap out at 65%. There are more aggressive products out there, but very rarely will a hard money cash out refinance loan to all the way to 80% of the value of a property. This program also can finance 80% of the as is value on a purchase - capping out at a maximum of 90% of the purchase price. For private money financing, that is extremely aggressive.
Another unique situation we have been able to help with was the financing of a property on leased land. This transaction was a hard money loan on Bureau of Indian Affairs leased land. Many lenders will not loan on leased land. We can help with situations like this, whether for a residential property like this scenario, or a commercial property where it is common to own the structure on a long term land lease. We were able to structure this loan and close swiftly.
We can help with many unique and aggressive situations, and are able to structure 'make sense' loans. We are able to help with hard money seconds on california property for example. If the use of funds is for business purpose, we can help borrowers obtain financing to get the cash they need in the short term, without losing the long term low rate of their existing first. We can help with land loans, construction loans and unique loans of many different types. If the loan is secured by real property in California, and it is non consumer purpose, it is worth a conversation to see if we can create a structure to fit your needs.
Give us a call today at 877 462 3422 if you have a unique scenario and have been denied financing elsewhere. We may be able to find a structure to help!
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