Private Money Loan for 2 Gas Stations in Northern California

Last week Rubicon Mortgage Fund closed a private money bridge loan of $875,000 to help an investor acquire a gas station in Citrus Heights, Sacramento. The purchase price of the gas station was $950,000. The borrower owns a gas station in Oakland which was owned free-and-clear. We cross colateralized the Oakland station to give the borrower enough cash for the acquisition in Sacramento. Rubicon now has a 1st trust deed on both properties. We estimate the combined value of the 2 gas stations to be around $2 million which puts our bridge loan at under 50% LTV. The term of this loan is 2 years with a 1-year option to extend. 

Rubicon offers short-term bridge loan to real estate investors in Northern California. Visit our Lending Guidelines page to see our private lending criteria.

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Hard Money Loan for Pittsburgh CA Mixed-Use Property

Earlier this month Rubicon Mortgage Fund provided a hard money cash out loan for a mixed use property in Pittsburgh, CA. The borrower purchased this property for $300,000 with all cash and needed additional funds to complete a major remodel on the property. We funded 50% LTC (loan-to-cost), a 1st position loan of $150,000 with a 2-year term. The ground floor of the building has a retail tenants. The upper level is a residential unit which will be rented soon. We think the property value will be around $450-$500K upon completion of the remodel.

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Hard Money Loan for Rockridge Oakland Rental Home

Earlier this month Rubicon Mortgage Fund closed a hard money loan secured by a single family rental home in Oakland's Rockridge neighborhood. The borrower wanted to cash out $300,000 for investment purposes. Most of the funds are to be used for acquiring another investment property, around $50,000 will be used to improve the subject property. We feel the value is around $750,000 now so our 1st private mortgage loan is a 40% LTV. The value will probably be around $900,000 once the improvements have been made. This 2-bedroom home is tenant-occupied. Our loan term is 1 year.

Rubicon Mortgage Fund provides short-term bridge loans on investment real estate in the Bay Area, Sacramento, Southern California, and other Western U.S. states.
Learn more about our lending criteria.

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