Borrower success stories
We take pride in our ability to help Oregon investors borrow on their real estate equity. When conventional loan sources were unavailable. these customers came to us for the flexible financing they needed. Here are a few of their stories:
Breathing New Life into a Salem Rental Property
A property investor in Salem, Oregon, found himself in a tough spot. A few years prior, he had purchased an aging rental property through a seller-financed contract. Seeing its potential, he poured hard work and capital into remodeling the home, transforming it over time into a well-maintained, high-performing rental generating steady monthly income.
However, a new challenge had arisen. The original seller carrying the contract now needed to be paid off in full. Our borrower turned to conventional lenders for refinancing but quickly hit a wall. . .
Continue the full Success Story >
How Hard Money Lending Saved a Dream Home
Building a high-end home can be an exciting yet challenging endeavor. A couple in Portland, Oregon, discovered this when they ran into financial trouble midway through constructing their luxury home.
Despite having a solid financial track record, they ran out of money and needed a loan to finish the project. Unfortunately, their bank denied their request, citing the risks of mechanic’s and labor liens associated with properties under active construction. The couple faced the potential of their dream home remaining half-finished. . .
Continue the full Success Story >
Hard Money Loan Secured
An Idaho couple was looking for a quick mortgage equity loan on one of their many properties they owed in the Boise area. After giving up finding a bank that made loans on non-conforming real estate, they started looking for a hard money lender and happily got in touch with us in Oregon. The properties they owned ranged from mini storages and bare land to commercial property, generally not the type of property conventional lenders are interested in making loans on.
We did a quick inspection of their properties and were able to fund their loan from our offices quickly and with minimum paperwork.
A Loan That Boosted Business Growth
This borrower was in the construction business and had seen his business grind almost to a standstill the previous four years. Learning about housing demand in North Dakota due to job growth, he knew that with proper financing he could stay busy building housing for people moving into the area. He wanted to borrow on a new home and guesthouse that he had under construction. He had no mortgage on the property, but conventional lenders wouldn’t talk to him because his property was under construction.
Since it was 80% complete, we felt that he had adequate equity in the property to justify a loan in the amount he was looking for. Since our private money loans are based primarily on equity, we approved the loan he needed. The last we heard, he is doing what he does best — building residential housing.
Bill Consolidation Eases Cash Flow
Our Oregon customer had so much debt that she was having trouble paying her monthly bills. She owned a small rental property that had no mortgage on it and came to us to obtain an equity loan for 50% of its value.
We inspected the real estate, did a comparable sales analysis of real estate in the neighborhood, and felt good about making the loan. Through her new loan she was able to pay off all her bills and just make one mortgage payment each month. Her new payment was considerably less per month than she was paying before.
Start-up Launched Thanks to Financing
A Southern California resident wanted to start a computer software company in the Los Angeles area and was having trouble obtaining a lender to fund his project through normal channels. He owned a nice rental property in the greater Portland area that he wished to use as collateral for an equity loan. However, conventional lenders were not interested in funding this type of loan.
He had heard of Oregon mortgage lenders that made equity-based private money loans. When he got in touch with us, we were able to fund his loan for the full amount he needed. The last we heard, his start-up business was doing well.
Looking Forward to Retirement
Our borrower was planning on retiring in the next few years. However, he had built up sizable credit card balances and personal loans with high interest rates. His goal was to position himself to live comfortably on a reduced income once he retired. To do this, he knew he needed to pay off his bills and credit cards.
We arranged a real estate equity loan on his central Oregon property, which allowed him to pay off all his bills. He planned to use rental income to make our loan payments, then sell his investment property in the next few years.
A Business Dream Realized
Our borrower owned a house free and clear and wanted a loan to help his wife realize her dream of starting a “personal training business.”
We inspected the property, obtained a title report, and funded the loan within a week and a half. Their business venture launched successfully.
Developer Needed to Buy Time
Our borrower was a real estate developer with an inventory of unsold homes and a temporary cash flow problem. He needed a hard money lender who wasn’t limited by conventional lending guidelines.
We quickly arranged a series of loans on his unsold inventory and got him the cash he needed. The properties sold in due time and he was able to repay our loans in full.
Business Expansion Loan Secured
This customer wanted to expand his cell tower business and increase his cash flow by purchasing and installing an additional cell tower. Traditional lenders were unable to help him because of past credit issues even though he was willing to place a mortgage loan on his free and clear rental property.
As hard money lenders we were able to look primarily at his real estate equity rather than past credit problems. We quickly funded the loan and today our client is enjoying increased revenue from his latest business venture.
Another Business Opportunity Realized
This Southern Oregon investor had the opportunity to purchase a well-established painting business in central Oregon at a very attractive price. They wished to move quickly to close the sale. After wasting precious time chasing dead-end bank loans he came to our lender team.
Since he owned a rental duplex and had no mortgage, we were able to fund his loan and get him the cash he needed within ten working days.
Balloon Payment Due
This Portland, Oregon borrower owned a house that he was fixing up to rent out and needed an equity loan to finish the work. He had approached several lenders but was unsuccessful; traditional lender guidelines prohibit making loans secured by properties already under construction.
This scenario was not a problem with our mortgage underwriting. We were able to fund the loan and provide the financing the borrower needed to complete his renovation project.