San Jose Private Money Lenders for Real Estate Investors
Here is a list of private money lenders for real estate in San Jose. Use a private mortgage to get fast funding for a Silicon Valley investment property purchase, refinance or equity cash out. Our directory lists private money companies (not individual investors) offering short-term loans that typically range from 6 to 36 months.
Private money loan for the purchase of a duplex in East San Jose, funded in March 2016. The purchase price was $300,000 and the Borrowers put down $90,000 in cash. The property was vacant and had significant deferred maintenance, with estimated rehab costs of at least $30,000. The Borrower plans to make cosmetic improvements, rent both units, and sell to another investor. The property should be stabilized within 6 months, with a value north of $450,000 at that point. We provided a 1st trust deed loan at 70% loan-to-value for a 12-month term. The transaction was completed in 15 days.
Private Money Loan for San Jose Multifamily Property Purchase
Private money loan for the purchase of a 9-unit multifamily property near Downtown San Jose, funded in February 2015. The purchase price was $1,550,000 and the Borrower put down $550,000 in cash. Due to recent vacancy and rents that are 25% below market, conventional financing at the time of purchase was not an option. The Borrower plans to turn over as many units as possible, make cosmetic improvements, and lock-in market rents. The property should be stabilized within 12 months, with a value north of $2MM at that point, enabling the Borrower to refinance with conventional financing. We provided a 1st trust deed loan at 65% loan-to-value for a 12-month term. The transaction was completed in 15 days.