Earlier this month Rubicon Mortgage Fund funded a $170,000 bridge loan to cash out equity on a vacant automotive property in Fairfax, CA. The borrower needed some funds to reinvest in the property for development. Our loan is a 1st trust deed, 50% LTC.
Rubicon Mortgage Fund is pleased to announce the launch of our new company video. This video gives viewers a complete overview of our company, our lending criteria, property types, as well as pertinent information for potential investors. Our entire team put forth a great effort to produce a high quality video. We’d love to have you take a look at it and send us an email through our website if you have any feedback.
Last month Rubicon funded a $540,000 private money loan for the purchase of a small motel in Soda Springs, CA. The property is located along Highway 80, just west of Truckee and Lake Tahoe. The purchase price was $900,000 so this 1st trust deed loan was 60% loan-to-cost and included 2 years of interest payments. The borrower is starting up a new business on this property. It had been shut down for a while. The term of this private mortgage is 5 years.
Rubicon Mortgage Fund recently funded a $1,100,000 private money loan to refinance an industrial property in Antioch, CA. The property is a 42,000 square foot warehouse on a 3-acre lot, occupied by an automotive service business. The loan-to-value was around 60% and the loan term is 5 years.
Rubicon Mortgage Fund recently funded a $370,000 hard money bridge loan secured by a mixed-use property in the Bayview District of San Francisco. The purpose of this loan was to refinance another loan that was coming due. The property has 3 apartments and one retail space on the ground floor. Rubicon’s loan is in 1st position. The loan term is 3 years, interest only.
Earlier this month Rubicon Mortgage Fund provided a $460,000 hard money bridge loan secured by 2 properties. The borrower wanted to purchase a vacant lot in the Santa Cruz Mountains so we have a 1st private mortgage on that property and we also secured a 2nd on the borrower’s 4-unit multifamily rental property in San Francisco. The SF property is a Victorian on McAllister Street, located North of the Panhandle (NOPA). The combined loan-to-value on the 2 properties is around 40%, the term is 2 years.
Rubicon doesn’t normally consider 2nd position loans but we made an exception since the LTV was low and the property was cross-collateralized. Learn more about our private money lending guidelines.
Last month Rubicon Mortgage Fund was the premier sponsor of a golf tournament hosted by the Belden Club. The event took place on October 10th at Harding Park golf course in San Francisco with approximately 120 players. We were one of the only sponsors with a table set up. We handed out lens cleaners and water as give-a-ways. We also had a raffle drawing for a $100 Target gift card.
The Belden Club is an association for real estate professionals in the San Francisco Bay Area. The Club, established in 1981, includes some of the most prominent real estate professionals in the region focused on the development, acquisition, management, brokerage, and financing of investment real estate. Rubicon’s principals are proud to be members of the Belden Club.
Rubicon Mortgage Fund is a private money lender offering short-term hard money bridge loans secured by investment real estate in Northern California and other areas throughout the Western U.S. Our loan amounts range from $100,000 to $5 million with a maximum LTV of 65%. Learn more about our lending criteria.
Last week Rubicon Mortgage Fund closed a $700,000 private money loan for a 4-unit multifamily property in Oakland, on the border of Piedmont. This was a 1031 exchange deal that needed to be funded fast. Rubicon’s bridge loan is a 1st trust deed on the property.
Rubicon Mortgage Fund assists real estate investors with short-term bridge loans to purchase or refinance investment properties throughout California and a few other Western states. Visit our Lending Criteria page to learn more about our guidelines.
Rubicon mortgage fund is pleased to announce the launch of our new website: www.rubiconfund.net. Using a robust platform we now have a website with a sleek design, a built-in blog platform, galleries of our funded properties and much more. Please post any feedback and/or suggestions you may have about the site’s design.