Private Money Loan for Purchase of Motel in Nevada County, CA

Last month Rubicon funded a $540,000 private money loan for the purchase of a small motel in Soda Springs, CA. The property is located along Highway 80, just west of Truckee and Lake Tahoe. The purchase price was $900,000 so this 1st trust deed loan was 60% loan-to-cost and included 2 years of interest payments. 

 

The borrower is starting up a new business on this property. It had been shut down for a while. The term of this private mortgage is 5 years.

 

 

Loan Amount: $540,000

Loan Term: 60 Months

LTC: 60%

Loan Position: First Deed of Trust