Oregon Private Money Lenders

Blue-inc. Capital, a private lender based in Oregon, funded a $100,000 1st lien position private money loan for the acquisition of a 3-unit mixed-use commercial building in Lane County, OR. We funded 48.78% of the $205,000 purchase price, while the Borrower contributed 51.22% cash at closing. The Borrower was purchasing an investment property but due to the current retail tenant, a Cannabis business, traditional bank financing was not an option. The subject property was “funky” in terms of the layout, but is a great investment with regard to projected gross rental income. It features 2,292 square feet of retail space with a 1,488-square-foot 2-bedroom, 1-bath apartment above on the second level. It has approximately 45 feet of highway frontage and overlooks the River. It has two retail spaces on the main level. The upstairs apartment will be renovated. The gross rent for all three units is estimated at $3,500 per month. Our loan is fully amortized, with monthly principal and interest payments, over 60 months. The Borrower had an average credit score. They plan to continue leasing the property and pay off the entire loan over the 5-year term. The interest rate was 12.25%. This private money loan was funded in March 2024.

Blue-inc Capital, a private lender based in Oregon, funded a $150,000 1st lien position equity cash-out loan secured by a commercial car lot in Salem, Oregon. Blue-inc was able to structure a loan for the Borrower using his free and clear car lot as collateral. We estimated the value of the lot to be around $300,000 which put our loan-to-value at a conservative 50%. We did not require an appraisal. We know the area quite well and did our own in-house valuation. The lot size is approximately 0.25 acres. The Borrower needed the cash-out fund to purchase more inventory for his business, unrelated to the car lot. They had good credit. The subject property was in good condition and tenant-occupied at the time of closing. The Borrower plans to continue leasing the property and will pay off the loan within the 36-month term. This private money equity cash-out loan was funded in June 2023. 

Blue-inc. Capital, a private lending company based in Oregon, funded a $2,500,000 1st lien position bridge loan secured by development land in Salem, OR. The property value was estimated to be $4,500,000 so our loan-to-value was 55%. The experienced developer/builder used Blue-inc. Capital to act as a bridge loan while construction loan details were being finalized. The land was entitled, and the horizontal development work was underway. The developer had used a bridge loan to acquire the land but needed additional time to complete the land development. We paid off the previous bridge loan but did not offer any cash-out. Our easy and creative process brought a fast close. The Borrower plans to get a construction loan upon completion of the land development, and they will build a multifamily building on the lot. The interest rate was 10.50%. The loan term was set at 12 months. This refinance bridge loan was funded in January 2023.

ReProp Financial, a private money lender, funded a $1.9M 1st lien position private mortgage loan secured by a light industrial building in Salem, Oregon. ReProp looked at financing this property in 2016, but the equity wasn’t in our range. The bank financing our Borrower’s light industrial business park declined to renew their note, prompting an exit of their loan. Now that the property has a healthy measure of equity, we were able to refinance the property and provide capital for further build out. During underwriting, we evaluated a concern about an easement on the title relating to a cell tower and confirmed with the title company that it wouldn’t affect insurance to close the deal. The borrowing partnership runs the day to day operations and continues to build-out to the needs of tenants using rental income and our funding to update the property. This CRE private money loan was funded in March 2019.