This transaction was a challenging purchase for many lenders. The subject property was a condo located in Riverside County. The condo was located on land leased from the Bureau of Indian Affairs (BIA). Many lenders will not make loans on property located on leased land, but we understand these BIA land lease deals and understand that in some areas it is common to have the long term BIA lease run with the land.
On this transaction we were able to secure financing for the purchase of a great condo located right on the golf course. A tenant was already in place for our client and he was having problems getting this loan funded elsewhere. We were able to come to the table and get loan docs to escrow quickly so that they could get the process of BIA approval for our transaction started.
This process can be time consuming and confusing, but we were able to work in a streamlined manner and had funding ready as soon as the Bureau of Indian Affairs gave their approval for the transaction. This is just one example of the out of the box hard money lending we are able to help with. This particular hard money loan was for leased land in Riverside County, but we are able to help with various long term leased land situations all over California.
Whether the property is residential, commercial, industrial or multi-family, we have options to help finance most transactions secured by real estate here in California. You can visit our hard money lending page to learn more about our California hard money loan programs.