Rubicon recently funded a multi-family acquisition in Red Bluff, CA. This borrower had a loan coming due with another private lender, and Rubicon was able to offer more favorable rates than the competing private lender. The loan refinanced existing debt plus cash out to complete improvements to the property. The borrower will remodel several units, raise rents, and refinance with a conventional lender once the property has stabilized.

Loan Amount: $450,000

Loan Term: 12 Months

LTC: 50%

Loan Position: First Position Deed of Trust