California is our area of expertise. It’s where our officers, directors and staff live and work. It’s where we’ve established our roots.
A basic tenet of RMC’s lending philosophy is that we originate loans locally, primarily in the San Francisco Bay Area and coastal metropolitan regions of Southern California1. California real estate markets have undergone many changes over the years. Of course, change is always a factor in real estate and we continue to innovate and adapt to changing times and economic cycles.
We’ve been a direct lender through several economic cycles and market corrections. Based on our direct experience, we believe that there are opportunities in our areas of focus to provide a favorable rate of return for our investors.
Guided by experience, we carefully consider select properties based on in-depth analysis of their quality and location. Typically, the properties we lend on are in areas that have:
- A vibrant and diversified economic base
- A dynamic and growing population
- Limited room for further geographic expansion
Since most of the properties are primarily located in our “own back yard,” we are able to visit and evaluate each one in-person. A member of our management team visits each California property on which an appraisal is made. They will assess the front exterior, the adjacent properties and the neighborhood.2
1 Up to 15% of the current Fund’s capital may also be invested loans secured by properties located in other states.
2 Site visits for non-California properties may also be conducted by an employee of the Manager; however, the Manager may also elect to: (i) engage a local real estate or lending professional (e.g., private lender, real estate agent, property manager, etc.) engaged to conduct site visits on the Manager's behalf; or (ii) rely solely upon the appraisal and information received from the appraiser without conducting a site visit for the non-California property.