El Sobrante Fix and Flip
A single family residence prime to fixed up and sold was the focus of this loan. Borrower needed $300K that Rubicon funded to complete the business purpose refinance. Length of loan is 9 months and Rubicon’s LTV is 60%.
Loan Amount: $300,000
Loan Term: 9 Months
LTV: 60%
Borrower had 2 Single Family Residences in East Palo Alto that were prime for a fix-and-flip. Needing $700,000 to finance the projects, he came to Rubicon for a cash-out refi. RMF funded the loan for a 2 year term. The combined loan-to-value is 60%.
Loan Amount: $700,000
Loan Term: 24 Months
CLTV: 60%
Rubicon funded a $3.1 Million loan to a borrower/owner of a close to 21,000 Square Foot Multi-Tenant building on a leafy downtown street in Santa Cruz. Loan is intended for property improvements on this 34-unit Office Building that also houses a Top-10 Reviewed Italian Restaurant on Yelp. Rubicon’s loan to value is 63%, loan term is 2 years and RMF holds the First Deed of Trust.
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Loan Amount: $3,100,000
Loan Term: 24 Months
LTV: 63%
Loan Position: 1st Deed of Trust
Located in a prime, busy section of Belmont, borrower requested loan funds to payoff existing debt, provide construction financing for 7-11 store, car wash and remodel of existing gas station. Rubicon funded this $4.2M on land with existing gas station (approximately 22,000 square feet) across street from major transportation hub. Loan to Value is 60%, 1st Deed of Trust and 18 month terms.
A restaurant/bar located in the Lake Merritt neighborhood of Oakland will receive a makeover including new kitchen as a result of Rubicon’s refinance loan of $725,000. The building is mixed use and includes apartments on 2nd and 3rd floors. Loan to value is 60% on this 1st Deed of Trust. Loan term is 2 years.
With incredible views of downtown San Francisco, Rubicon Mortgage Fund, LLC successfully funded $1.1M on a single family residence ripe for redevelopment. In the well-located neighborhood of Noe Valley the loan to value on this special property was 58%. Borrower intends to rehab and use for investment purposes.
Rubicon Mortgage Fund, LLC funded an $1,100,000 loan on two single-family residences and one condominium, cross collateralized with two residential lots, one currently under construction located in Oakland, CA. The purpose of the loan was to finance construction of a single family residence. The one year loan term will give the client sufficient time for the owner to sell the property. Rubicon’s loan to value was 50% on this particular transaction.
Loan Amount: $1,100,000
Loan Term: 12 Months
LTV: 50%
Rubicon Mortgage Fund funded a $150,000 construction loan for the Rehab of a Non-Owner Occupied Residential Home in El Cerrito, CA. The Home is well located, down the street from the Mira Vista Country Club, less than a mile away from BART, and has vistas of the Bay Bridge, the Golden Gate, and the Richmond-San Rafael Bridge. Rubicon’s borrower is a seasoned developer with previous experience in that market who needed the fund to finish the project. Rubicon Mortgage Fund’s 1st Deed of Trust loan was 20% LTV (Loan-to-Value) of the property with a 1-year loan term.Â
Loan Amount: $150,000
Loan Terms: 12 Months
LTV: 20%
Loan Position: 1st Deed of Trust
Yesterday Rubicon Mortgage Fund funded a $1,400,000 private mortgage secured by a 20-acre state-of-the-art equestrian property in Geyserville, California. The short-term loan is a 1st position loan with a 50% LTV (Loan-to-Value). The borrower intends to use this loan to further develop and improve the property. Geyserville is located in Sonoma County. This private money loan term is for 2 years.Â