Danville, CA

$660,000

Single Family Residence

Purchase

09/01/2020
Transaction by
Rubicon Mortgage Fund, LLC
In September 2020, Rubicon Mortgage Fund provided a private money loan for the purchase of a single family home in Danville, Contra Costa County, CA. The Borrower is a local real estate broker who plans to do a fix and flip project. The home was listed on the market for $1,100,000 so our loan is 60% loan-to-value. The Borrower put down 40% cash toward the purchase price. Recognizing the ability to earn a substantial profit, the borrower wanted to snap this home up before other investors. He was able to close quickly with Rubicon and will begin work on improving this 1,300 square foot home before putting it back on the market. With the lot being over one-third an acre, the buyer plans to include an Additional Dwelling Unit (ADU) on the property thereby providing additional value for the asset. Rubicon helped facilitate the financing by securing a 1st Deed of Trust for a 12-month term.