Realtors

Think you know bridge loans?

Here’s my favorite agent story…
Discuss a deal
Working together

Consumer bridge loans are magic – they can create transactions out of thin air.

A few months ago one of my agents called me in a mild panic. Her retired clients who live in a $2.3M tri-level hillside home on an acre have just found the perfect house for downsizing – one level, flat, private, low-maintenance, and with the equity in the departing residence they can pay cash for the new $1.5M home. Problem, of course, is that the listing is taking offers in three days, and there will be multiple offers and the clients have no cash outside of retirement accounts. In less than 24 hours clients are fully approved for a bridge loan with a 17 day close, can make an offer with no loan or appraisal contingency, and don’t have to liquidate an IRA and pay a huge tax bill.  Total transaction value: $2.3M+$1.5M=$3.8M

The same agent calls me a few days later, new scenario. Recently widowed client in Sausalito needs to move out of her large home, valued at $3.3M with a tiny mortgage, but is paralyzed by the thought of having to sell and not knowing where she will go. She has just found the perfect place in Corte Madera for $1.2M and they are about to take offers. Boom, bridge loan approved, client in contract with a 21 day close. Total transaction value:$3.3M+$1.2M=$4.5M

AGAIN, the same agent calls me a week later. Clients in Novato want to downsize from their $1.5M home with a $400k mortgage down to a $1.1M home to rebuild their finances. Problem is that their credit is terrible – the wife left her job for two years to take care of her dying mother, and the couple burned through their savings. Now she is back to work, both have excellent jobs and have had perfect credit their entire lives until this problem. Bridge loan approved. Total transaction value:$1.5M+$1.1M=$2.6M

That is $10.9M in transactions thanks to the consumer bridge loan!

Call me directly, or schedule a 10-15 call on my calendar. If I miss you when you call, text me. I usually get back to all calls within two hours.

Private Money Lending can:

1) Make cash-like offers that in win a bidding war

2) Avoid clients having to sell and move before buying a new place

3) Avoid clients paying a big tax bill when liquidating appreciated financial assets.

Always happy to walk you through the process or discuss how a consumer bridge loan might help your clients.

Terms: Up to 100% of the purchase price, no prepayment penalty, offers can usually be made non-contingent with a fast close.

Let’s stay connected on LinkedIn:

1. Win the bidding war with cash-like offers and speed.

2. No more having to sell and move before buying a new place.

3. Save clients a big tax bill liquidating financial assets.

Richard is an expert in mortgages and financing. He is extremely knowledgeable about different financing options and is able to provide detailed information about what is available to his clients. He is very responsive by phone or email. He also provides a personal touch to the experience financing for a home.
Richard was instrumental in helping me purchase a house. He also came with me to do the signing at the close of the sale. I cant say enough about how passionate and experienced Richard is in his field.
Lisa H.
Nurse Practitioner, UCSF Medical Center
Richard is a rare find. His expertise regarding mortgages and real estate financing in general is super, as evidenced by his book and my personal experience. Combine that with his high level of professionalism and his style which includes humor, sensitivity and passion for delivering the best service and the best possible deals, and you have the kind of person that I truly value doing business with. I have consulted with Richard over many years on a wide variety of real estate transactions and his insights have been invaluable, while he is also an absolute pleasure to work with. I trust him absolutely to always have my back and cannot recommend him more highly.
Jon L.
B2B Marketing
Over ten years ago I got a large inheritance. Since that time I have made many investments, not all of them great. With Richard, I get transparency, good communication, a solid return, and I know my money is safe. I love that it is secured by real estate and that I can see the details on every deal I invest in.
Chris F.
Investor in Berkeley
I am a top agent in Marin County and have been working with Richard for over 15 years. Every real estate agent needs to have a good private money lender in the toolkit, and Richard is the best. It is amazing that in a time when mortgage lending can be such a hurdle that Richard can step in, save a transaction, and close in days not weeks.
Carol A.
Coldwell Banker agent in Marin
I have been investing with Richard since 2009, with between $1 million and $2 million invested at any given time, and I have had a great experience. Richard has been very good at carefully checking out lending opportunities that look more risky than they really are, so I get both safety and a high return. Especially now, with other markets looking volatile, I like investing in first trust deeds secured by real estate that I can actually go and look at.
Maureen S.
investor in Marin County
When I first met Richard I was a relatively new agent. I had gotten my first really big deal into contract – and it was REALLY big – and I was like the dog that had caught the car. At the last minute, when the transaction looked like it was going to blow up, Richard pulled an amazing rabbit out of his hard money hat and saved the day (and a very big commission). I have since learned that Richard’s reputation is built on doing what seems impossible, impossibly fast, and making it look impossibly easy.
Caroline P.
Real estate agent in Marin County
I unexpectedly found an amazing property, the kind of place I had been dreaming about. I got into contract and was told by a conventional mortgage broker that there would be no problems, even though I am self-employed and have numerous businesses and sources of income. He couldn’t come through, and after missing two contract deadlines I was about to lose the property. Richard stepped in, smoothed relationships with the agents involved, and got the deal closed in less than 10 days. Wow!
Amy B.
Borrower in Sonoma County
I first came to Richard in 2006 when my partner and I were struggling to find a way to finance the completion of a house that we were doing a complete gut remodel on. Richard came to the rescue, and we now have a home that is worth twice what it was when we came to him. My next great experience was when Richard helped us buy-out a partner in a vacation home in Mendocino. The kind of deal and the ridiculous lender requirements made a regular loan impossible, so Richard stepped in and made it so we didn’t have to sell our interest. I really like the positive way Richard worked with me as a borrower to help me find solutions when other people told me what I wanted to do was impossible.
Lori S.
Borrower in Marin County