Riverside, CA – TaliMar Financial is pleased to announce our most recent funding of a $1,286,425 cash out refinance hard money bridge Loan secured in 1st position at 65% loan to value on eight properties in Riverside, CA.
Our client approached us with a loan request to buy out several other family members from a portfolio of properties they had inherited. The properties were owned free and clear and six of the eight units were leased. The income generated from the six leased units were sufficient to pay the debt service.
The biggest hurdle on this transaction was our Client was still negotiating the buy out price. Additionally, there was a large lien secured on several of the properties due to some litigation years prior. Once our Client agreed to terms with all other parties, we quickly moved to close.
The Borrower intends to refinance each property to pay down the hard money loan. The loan includes specific release provisions for each refinance.
About TaliMar Financial
TaliMar Financial is a San Diego hard money lender that specializes in funding residential and commercial Fix and Flip, Construction, and Bridge Loans. As a direct private money lender, we offer aggressive financing options and typically close our transactions in less than 7 business days. We work directly with real estate investors and property owners as well as real estate agents, mortgage brokers, and other real estate professionals.
Contact TaliMar today at (858) 613-0111 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.