Richmond Family Transfer
After a family inheritance of a free-and-clear multi-unit property to 3 siblings, 1 of the siblings wanted to be paid out leaving 2 brothers on title. They came to Rubicon for a $300,000 loan for this Family Trust Buy-out. The 5,000 square foot lot hosts a 2-story, 4-plex – each with 2 bedrooms and 1 bath and a parking spot – residential building with active renters. Loan period is for 1 year and the LTV is less than 50%. Rubicon holds the 1st Deed of Trust.