Hard money referral for multifamily value-add deal in Nor Cal?

5 Replies

Any referrals out there on this? Property is located in unincorporated area of Santa Cruz County, CA in Northern California, about 30 min drive from core Bay Area. Incredible location with massive upside. Looking for private money/hard money/bridge financing for the purchase, and we'll consider additional funding for the renovations as well if the interest rate and terms make sense. Non-recourse preferable, no pre-payment penalty, at least 1 year term. We're looking for 75%-80% LTV. We're non-contingent right now, set to close escrow in the next 60-90 days.

Thanks in advance for referrals!

Lima One Capital would be great for this, although it won’t be non-recourse. 

They'll fund 80% LTC (purchase and rehab funds) as long as the loan amount is no more than 70% of the ARV.

PM me if you want their contact info 

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Originally posted by @Jo-Ann Lapin:

What type of property is the subject and what is value add component? Is the subject is a populated unincorporated area or more on the rural side ?

It’s a 22 unit apartment complex  in a populous submarket of the Bay Area.