Direct Private Lender for Investment Real Estate

ReProp Financial is a direct private mortgage lender based in Northern California, established in 1978. We are a regional, niche real estate collateral lender, specializing in residential, commercial, light industrial and agricultural loans. We also offer 1st lien mortgages at very competitive rates and fees. We fund loans that others can’t, quickly and professionally. We treat you with the respect any customer deserves. Your needs are not “sub-prime,” but unique. We are not a loan broker, we fund loans directly. You are always communicating with the decision maker.

PLEASE NOTE: We do not offer loans secured by owner-occupied homes.

Property Geographic Area Details

Arizona, California, Idaho, Oregon, Washington

Loan Amounts

$150,000 to $2,500,000

Interest Rates

7.99% to 11.99%

Max Loan-To-Value

65.00%

Max Loan-To-Cost

85.00%

Origination Fees

1.5% to 3.5%

Loan Terms

12 months to 180 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Adult Day Care
  • Agricultural
  • Assisted Living Facility
  • Auto Dealership
  • Auto Repair
  • Bed and Breakfast
  • Cannabis Dispensary
  • Cannabis Grow Facility
  • Car Wash
  • Child Day Care
  • Commercial Condominium
  • Commercial Land
  • Community Center
  • Condominium
  • Gas Station
  • Gym
  • Healthcare
  • Hotel
  • Industrial
  • Mixed-Use
  • Mobile Home Park
  • Motel
  • Multifamily
  • Office
  • Parking Lot
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • RV Park
  • Ranch
  • Rehabilitation Facility
  • Residential Land
  • Retail
  • Senior Housing
  • Single Family Residence
  • Sports Facility
  • Storage Facility
  • Student Housing
  • Timberland
  • Vehicle Parking
  • Winery

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Commercial Property Value Add
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Commercial Ground-Up Construction
  • Residential Ground-Up Construction
  • Commercial Long-Term

Specialty Loan Types

  • Residential Long-Term Rental
  • Reverse 1031 Exchange
  • Partner Buyout
  • Cannabis Use Properties
  • Commercial Permanent Financing

Agribusiness Loan

Agribusiness Types

  • Cattle Ranch
  • Cannabis
  • Citrus Grove
  • Corn
  • Cotton
  • Dairy
  • Melons
  • Peach
  • Peanuts
  • Potatoes
  • Poultry
  • Row Crops
  • Swine
  • Tree Nuts
  • Vegetables

Will Consider Cannabis Use Properties

yes

Maximum LTV for Cannabis Use Properties

60.00%

Cannabis Property Use Type

  • Cultivation
  • Retail Dispensary
  • Retail Sales
  • Manufacturing
  • Processing
  • Production

Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Office Land
  • Retail Land
  • Agricultural Land
  • Special Purpose Land
  • Cannabis Use Land

Will Consider Land That is NOT Entitled

yes

Max LTV for Land

50.00%

Max LTC for Land Acquisition

50.00%

Purchase Loan

Max Loan-To-Purchase Price

85.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Another Investment Property

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

1

Will Provide Funds for Renovation Costs

no

Max LTC for Renovation Costs

85.00%

Maximum After Repair Value

65.00%

Construction Loan

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

1

Max LTC for Ground-Up Construction Costs

85.00%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

3

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Amortized

Payment Structure Details

Short-term loans are interest only, Can do up to 15 Year Fully Amortizing, 20 Year Amortization with Balloon in 10 years

Pre Payment Penalty

no

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Non-Profit Corporation
  • Self-Directed IRA

Documentation Required

  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Sometimes

Credit Check Required

no

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Deposit Required

$650.00 to $1,500.00

Deposit depends on the complexity of the transaction

Site Visit Fee

$0 to $0

Fees which are mandatory for all new borrower clients

  • Deposit
  • Site Visit Fee

Fees which are charged upfront prior to loan closing

  • Deposit
  • Site Visit Fee
  • Appraisal Fee

Fees which are paid to a third party company

  • Appraisal Fee

ReProp Financial, a private money lender, is a division of ReProp Investments, Inc., established in 1978. We are a regional, niche real estate collateral lender, specializing in commercial, industrial and agricultural loans. We are a boutique specialty lender with extensive experience in all types of small balance commercial loans.  We are not a broker, we fund loans directly.

ReProp has demonstrated outstanding performance throughout our history, having weathered a number of business and real estate cycles. ReProp is organized and licensed in California and does business in several western states. We are actively seeking to make commercial real estate loans to small businesses and investors.

Glenn Goldan, the Founder and CEO of ReProp, has an extensive background in real estate – from agency, brokerage, and property management to development, legislative reform, and consulting. Glenn’s first-hand experience with the many facets of commercial mortgage lending provides a unique underpinning for ReProp’s specialty lending. With over 30 years of experience in commercial real estate, ReProp can usually find a creative solution for even the most difficult collateral.

RFMI CFL License: 605 2783 | RCS CFL License: 605 4681 | ReProp Investments, Inc.: CFL License: 60DBO 48773, NMLS ID: 1189084, RII DRE # 00656859 | ReProp Investments, Inc: Oregon Mortgage Lending License: ML-5297 | ReProp Investments, Inc: Arizona Mortgage Broker License: 0927323 | DRE # 01917704


 

License

CA DRE Lic. 01917704, CFL Lic. 60DBO 48773, Oregon ML-5297, Arizona MBL Lic. 0927323, NMLS ID 1189084

Year Established

1978

Associations

  • California Mortgage Association - Board of Directors

Office Locations

ReProp Financial
735 4th Street, Eureka, California 95501



Primary Capital Source

  • Own Funds

Alternative Capital Sources

  • Bank Credit Line

Loan Structure for Majority of Loans

  • Own Balance Sheet

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Commercial Property

50%

Percentage of Loans Secured by Residential Property

50%

Percentage of Residential Property Loans Which are Fix and Flip

15%

Percentage of Residential Property Loans Which are Buy and Hold

10%

Percentage of Loans Secured by Land

5%

Glenn G. Goldan

President

Glenn Goldan began his real estate career in 1976 and has successfully owned and operated five real estate brokerage and two property management companies in California. His success consistently put his brokerage in the top 10% in both volume and service in Century 21’s worldwide system. Glenn’s experience has been broad, from brokerage to commercial real estate development, leasing and financing. In 1986 Glenn launched ReProp Financial, a private small balance commercial mortgage banking company. Its niche is blending collateral and credit analysis to fund loans which are just beyond the reach of traditional institutional lenders. Since inception, ReProp Financial has underwritten, placed, and managed its real estate financing on behalf of its private investors. Today with ReProp Financial as Glenn’s sole business venture, the company has transitioned to a structured financing model for its portfolio growth and is developing funding capacity in all states. Glenn remains active in the mortgage banking community having served as Vice President and Legislative Chair for the California Trust Deed Broker’s Association and Legislative Chair, Vice President and President for the California Mortgage Association. He currently leads the Commercial, Construction and Pool Managers Focus Groups for CMA and serves on its Board of Directors. Glenn is also a sought out lecturer in many aspects of commercial lending practices. Glenn and his wife Shelle and daughter Hannah have been very active members of their community and are especially involved in youth sports, Humboldt Sponsors and Court Appointed Special Advocates (CASA). Glenn currently chairs the Coastal Division Board of Directors for Umpqua Bank, and has served on the Board of Directors of Eureka Rotary and the Eureka Historical Preservation Commission; chaired the Redevelopment Advisory Board for the City of Eureka as well as the Private Industry Council for Humboldt County; and, has been president of the Eureka/Humboldt Economic Development Corporation.

Dane Valadao

COO

Dane Valadao has 10 years of real estate and lender experience. Dane joined ReProp 2014 as Business Development and his responsibilities have grown to include management and investor relations. He is primarily responsible for originating loan throughout the Company’s footprint through relationships with other banks, development agencies and mortgage professionals. Prior to joining ReProp, Dane worked for a servicing company and was responsible for trading whole loans and mortgage servicing rights and forecast modeling. A lifelong Arcata resident, Dane earned an athletic scholarship to Humboldt State University to play soccer. After a successful soccer career at Humboldt, he transferred to Louisiana State University where he completed his undergraduate degree in Business Administration in 2009. He then decided to continue his studies at LSU, earning his MBA in 2011 before returning home to Humboldt County with his family.

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

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