$650,000 Cash-Out Refinance Loan in Hollister, CA
Transforming a Modest Home
into a Vibrant 5-Home Subdivision by Refinance
Loan Amount: $650,000
Loan Term: 12 Months
LTV: 43%
Loan Position:Â First Position Deed of Trust
Hollister, CA â Rubicon Mortgage Fund, a leading direct lender specializing in short-term commercial real estate loans, is pleased to announce the successful funding of a $650,000 cash-out refinance loan for a unique single-family residence on 30 acres of land in Hollister, California.
A Strategic Refinance for Maximum Potential
The experienced borrower, a local business owner with a proven track record in property development, plans to leverage the cash-out refinance to unlock the propertyâs full potential. The funds will be used to subdivide the front five acres of the 30-acre lot into five one-acre lots, each suitable for building a single-family home. The existing single-family residence, which resembles a compound with a shed and garage, will be renovated and sold.
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The propertyâs vast acreage and agricultural potential offer endless possibilities for future development. With careful planning and execution, the borrower aims to create a thriving residential community while maximizing the value of the land.
A Non-Traditional Deal, Requiring a Non-Traditional Lender
The unique nature of the property, coupled with the vacant status of the single-family residence, made it challenging to secure traditional financing. Rubicon Mortgage Fundâs ability to assess non-traditional deals and provide flexible financing solutions proved to be the perfect fit for this project.
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A Low-Leverage, High-Impact Investment
Rubicon Mortgage Fundâs low-leverage approach to lending ensures prudent risk management while maximizing returns for investors. This strategic investment in the Hollister property exemplifies the Fundâs commitment to supporting innovative real estate projects and empowering experienced developers to achieve their goals.
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