$450,000 Acquisition in Shaver Lake, CA
Rubicon enabled one of our repeat clients finance the
acquisition of this property located in Shaver Lake, California.
This mixed-use property was vacant at the
time of the loan – and vacancies generally lead to a difficult time acquiring
conventional financing for borrowers.
Luckily, Rubicon is an asset-based lender and only requires the physical
property as collateral for the loan, which allowed our borrower to complete
this purchase and secure their investment opportunity.
Our borrower plans to spend some time
renovating the property before finalizing leases with new tenants and
refinancing through conventional channels to pay off the obligation to
Loan Term: 12 Months
Loan Position: 1st Deed of Trust