Hard Money Luxury Home Financing in California

By
Mortgage and Lending with All California Lending BRE# 01458390

With the pandemic causing unprecedented uncertainty in the markets, investors still need financing for their projects.  For many investors, funding is still readily available, although maybe not at the same terms it was six months ago.  For hard money luxury home financing in California, however, the markets are much more unpredictable.

The housing market overall seems to be fairly strong.  Homes are selling, prices are not falling.  Home ownership levels have actually hit their previous highs from 2008.  With that being said, however, the luxury home market has more question marks.

For clients who have spent the past year (or years) building a luxury home for sale, they are looking at potentially longer marketing times to realize their target sales price.  This often times requires financing to bridge the gap.  When the construction financing term is due and new funding is required, that can bring problems specific to the high end luxury home market.

In the mainstream market, there are plenty of comps that can support value.  Properly priced homes are not typically sitting on the market, and finding a comp for your 3,000 sqft home that is similar, even if not a model match, is not typically an issue.  For the trophy homes and high end luxury homes, however, that is not the case.

Recently we assisted with a trophy home of over 40,000 sqft.  There were no model match comps.  The construction financing loan was coming due, and the investment group who owned the property was looking for take out funding with 12 months of carry.  The home was on the market for $100,000,000, and had just received final sign off for completion.

The guarantors were very strong financially.  We were able to help secure funding to payoff the existing loan and give the owners cash out to cover payments on the new loan for 12 months.  This allows them the time to properly market the property, waiting for the right buyer and offer, without requiring additional cash calls to their investor base.

We have been in the private money segment here in California for over 15 years and have built many long term relationships.  This allows us to assist with a wide variety of loan requests, including hard money luxury home financing in California.  There is no maximum loan amount for what we can assist with, and we can be very creative with regards to structure.

If you are in the market for a private hard money loan secured by real estate here in California, give us a call today and let us show you how we can help.  We understand the markets, as well as the unique nature of marketing and selling high end properties that requires niche financing.  For the right loan to value deals, we have the ability to secure funding in a matter of days.  Learn more about this project and our luxury home financing in California, or call us for more information at 877 462 3422.

Comments (1)

Jane Byran
Autaugaville, AL
Real Estate

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Phone: +1 719 629 0982

 

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E-mail: andersonraymondloanfinance@gmail.com

 

Office address is (68 Fremont Ave Penrose CO, 812400).

May 01, 2021 05:20 PM