San Francisco Private Money Construction Loan

Recently Funded
Location: San Francisco
Loan Amount: $1,760,000
Lien Position: 2nd TD

Private Money Construction Loan


Loan Term: 12 Months

Here is an example of a recently funded project in San Francisco that when completed will feature 6 high-end condo units and 1 retail commercial space.
The project was 45% complete when the loan request crossed my desk. The developer originally issued a letter of intent from a major bank, but the bank could not perform when it came time for funding. The project was stalled for 6 months.
Construction completion loans (especially a multi-unit project) are challenging because of mechanics liens, getting the proper title insurance coverage, and narrowing down the actual budget so the developer doesn’t fall short.
Our fund has specialized in construction lending for the past 18 years and this enables us to put together unique deals. The developer for the San Francisco project was so pleased with our team that he asked if our construction manager could continue to consult on the remaining work.
As a matter of interest, we were able to fund this as a 2nd mortgage behind a 1.6 million dollar 1stTD !

For more information please call 925.852.8261 and find out how we can fund your next project in the San Francisco Bay Area.

About Beau Eckstein

Beau Eckstein has a diverse real estate background with over thirteen years of real estate experience. This includes real estate sales, residential mortgage lending, construction financing, and private money loans. Beau utilizes his vast knowledge and great people skills to help investors, brokers, contractors, and owner /builders create successful projects.
http:constructionloanpro.com

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