Who are we?
We are longtime friends who grew up right here in the Inland Empire. Due to the positive transformation we have seen here in the area, we are growing our own families and futures here. To help promote the growth of the region, we cofounded the Inland Empire Real Estate Investment Club (www.iereic.org); which meets at The Mission Inn once a month. Our goal is to combine the loan products we build with the network we are establishing to bring more sophistication to the community.
What do we do?
We create hard money loan products that have the controls of a lower risk loan while maximizing the leverage position for our borrowers.
Who are our borrowers?
We lend to experienced borrowers with a background in construction or real estate. First time flippers must have a mentor or experienced team to borrow from us.
Where do we lend?
Even though we are located in Riverside, we lend in all six major Southern California counties which include: Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura.
What is our primary loan product?
How do we do it?
1. The process starts when we receive an application through our website.
2. If this is a new borrower we evaluate their experience and ability.
3. If we are comfortable with the borrower, we complete a desktop appraisal to determine the after repair value of the property.
4. If the property meets our criteria and the borrower agrees to our terms, we perform a physical inspection of the property.
5. After the inspection we come up with a construction draw schedule with the borrower.
6. We then package all the documentation and due diligence to send off to our investors for review.
7. Once we receive a commitment from an investor, our borrower wires 8% of the loan amount (as pre-paid interest) to escrow and our investor brings in the remaining 92% of the loan. We pay our investor the highest return in the hard money industry.
8. We then oversee the project and disburse construction funds, as agreed, to the borrower.
9. After completion of the rehab we maintain contact with the borrower and await payoff.
10. If any of our conditions are not met, we take the property into receivership and finish the project on their behalf.
Give us a call or email us with any questions at (951) 684-2553 or firstname.lastname@example.org
Thank you for your interest,
Todd Bayer & Stephen McKee