Red Stone Lending LLC is a Startup in the Real Estate Funding Business
A Los Angeles based startup, Red Stone Lending LLC is actively assisting real estate investors with acquiring funding. The firm has experienced regular drama as they entered a volatile market impacted by the pandemic. They provide education and guidance to their clients and help them find the ideal funding for investments.
To leverage this trend, Red Stone Lending LLC, a Los Angeles based startup was founded later in 2020. The startup is since actively assisting borrowers with financing in a freshly volatile real estate market. Besides real estate, they assist businesses with acquiring unsecured business capital.
The firm is focused on connecting borrowers with private money and hard money funding sources.
Since LIBOR rates were reduced in Q1 2021, the founder Rob Hofer, has seen his lenders inundated with long term loan requests. "Most long term lenders were offering a deal quote in up to one business day. As of late May 2021, the same request is taking 2-4 business days with the same lender."
"The craziest episode in the volatility series has to be the cash buyers. A client in Florida received a list of half a dozen residential properties to purchase for flipping. Several hours after receiving the list, the seller informed our client the properties were all sold to cash buyers. It wasn't the first such report." This was one of the firm's more prolific experiences in an asymmetric market.
Another symptom of volatility is the spike in residential and commercial units changing hands. The pandemic had a detrimental effect on most businesses serving customers in-house. A large number of these units previously occupied by said businesses are being vacated and/or having tenants shuffled. A July 2020 TV report stated that 7.5% of renters in the San Francisco Bay area had broken their lease agreements in the last 3 months. Young techies are fleeing the unaffordable enviro of Silicon Valley as work-form-anywhere policies are implemented worldwide.
Many businesses such as restaurants, offices and retail outlets are reassessing square footage used and operating location. The $16 trillion (2018 estimate) American commercial real estate industry has consequently seen an alarming number of lease terminations and vacancies. This chaos is bringing losses but also plenty of opportunities. "We're seeing an uptick of creative utilization and repurposing of properties," the firm reported.
Due to local demand, several of their clients have diversified their investment strategy and are making exploratory moves into event hosting. With so many office buildings and industrial/warehouse units sitting vacant, investors are acquiring them for steep discounts to offer event hosting and repurposing for housing.
Red Stone Lending brands itself as a boutique service provider for investors in need of responsive and quick service. In a short span, the firm has made connections with lenders, brokers, and private equity firms nationwide to serve a wide variety of needs. Their primary focus market is all common loan types for 1-4 unit residentials, including fix and flip. They also assist their clients in making ideal purchasing decisions and loan choices. Aside from residential properties, their network of lenders will finance any viable deal type in the hospitality, commercial, industrial, and storage sector. They will also finance most types of new construction up to and over $500MM, and unsecured business capital up to $1MM.
For press and business deals, their staff welcomes inquiries via the website at www.redstonelending.com.