Recent Funding: $840,000 Bridge Loan in San Diego, CA

El Cajon, CA– TaliMar Financial, a El Cajon Hard Money Lender, is pleased to announce our most recent funding of a $840,000 Bridge Loan secured on an empty lot in El Cajon, CA. The funds were used to buy out an existing financial partner and fund the building plan approval process for a 30 unit apartment building.

The lot had previously been used as a gas station and was recently cleared by the State of California for any contamination. The zoning had been changed from commercial to residential, and with recent upzoning regulations approved by San Diego County, the borrower will be able to increase the maximum number of units.

The biggest hurdle on this transaction was the land use. Many Private Money Lenders will not fund vacant lot loans because of the perceived risk. However, in this scenario, the Borrower had a past history of successfully developing infill lots with residential apartment buildings. Based upon the experience and location of the lot, we approved the Hard Money Land Loan.

About TaliMar Financial

TaliMar Financial is a San Diego hard money lender that specializes in funding residential and commercial Fix and Flip, Construction, and Bridge Loans. As a direct private money lender, we offer aggressive financing options and typically close our transactions in less than 7 business days. We work directly with real estate investors and property owners as well as real estate agents, mortgage brokers, and other real estate professionals.

Contact TaliMar today at (858) 242-4900  with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.