Remember the 2008 real estate market crash? So do we.

We lived through it, we learned, and we decided to do better. Rain City takes a different approach to hard money lending – we put the interest of our borrowers first, and prioritize smart decision-making for long term. Since 2009, we have funded over $750 Million in loans for rehabs, short sales, escrow and auction purchases, in over 4,000 transactions. We partner closely with each of our borrowers to ensure success. Unlike the industry in 2007 – and for some lenders today – for us, it’s not about a quick buck. It’s about keeping it simple and lending with integrity.

Watch the video below to get to know us better.




Fred Rea is the founder and manager of Rain City Capital. Between November 2003 though March 2006, Fred assisted in the closing of conventional investor loans as an employee of Cobalt Mortgage, the largest privately held mortgage banker in the state of Washington. In April 2006, he was retained by the owners of Cobalt Mortgage to start, manage, and originate hard money loans for Stone Capital Funding, LLC. From April 2006 through September 2008, Stone Capital closed a large number of distressed real estate purchases with Fred as its only loan originator. Fred also managed the operations, auction process, as well as the portfolio to ensure all loans paid off at date of maturity. Fred was born and raised in the Seattle area and is a diehard Seahawks fan. He lives in Bothell with his wife and two children.



Buster has served as the chief financial officer to an eclectic mix of companies in various industries. Most recently, he was the Executive Vice President for LHUI, a Seattle-based insurance brokerage and Senior Vice president of Finance for the Seattle Times Company. Buster previously served as Chief Financial Officer for several Paul G. Allen companies, including Vulcan Inc., Mr. Allen’s multi-billion dollar asset management company; the Seattle Seahawks; and First and Goal, the company that built and manages CenturyLink Field. Buster serves on the boards of several local nonprofit corporations, including the Seattle Foundation, the Allen Institute, Experience Music Project, the Greater Seattle YMCA, and the Seattle Seahawks Charitable Foundation.



Pam Drexler spent 20+ years as VP of Loan Administration at First Mutual Bank in Bellevue WA (acquired by Washington Federal Bank). In this role she was responsible for loan servicing for mortgage, commercial, consumer and construction loans as well as loan funding, secondary marketing and investor reporting. In 2007 she joined Foundation Bank as Senior VP and Director of Operations responsible for several areas including all lending operations, human resources, deposit administration, marketing, project management and IT. Pam is known for driving operational excellence and change initiatives while balancing customer service through fair and direct leadership style. Pam has lived in Bellevue and Redmond for most of her life. She and her son live in Redmond and have a great shared love of basketball. She is an avid runner and reluctant gardener.

Ryan Morell

Regional Sales Manager NMLS # 692641

Ryan Morell has had a number of years in the mortgage industry and specializes in bridge financing. He specializes in foreclosure acquisitions and leads a group of investors to acquire and sell properties, giving him extensive knowledge of projects from start to finish. Ryan also has expertise in the flip process and is heavily involved in the real estate investment side of the business. Ryan has a wife and son, and they reside in Vancouver, WA. He is into playing sports in his free time such as softball and golf, and is also always looking for a reason to travel and see new places. He is an avid NFL football fan and is a die-hard Seahawk.

Nicole Navarro-McCutchan

Regional Operations Manager

Nicole Navarro-McCutchan has spent a span of 10 years in the finance and the banking industry. She has worked for a few different financial institutions holding different positions, including Wells Fargo, Washington Mutual, Chase Bank and US Bank. She has a passion for lending and compliance and always yearns to continue growing and learning more about the industry. In her free time, she sings and is an avid sports fan (and fantasy sports player). She grew up in southern Oregon, and now resides near Tualatin with her husband, son and daughter.

Chris Burdick

Sales Executive

Chris Burdick’s father was in hard money lending. Chris loaned through him for decades and has always had a passion for the business. Along with owning several rental properties himself, Chris’s rich experience in developing and managing client relationships stems from his natural ability as a connector in the Portland market.

After graduating with a BS in Communications from Oregon State University, Chris spent time in both San Diego and Las Vegas in management positions for both telecom and hospitality industries. Before coming to Rain City Capital of Oregon, Chris represented a seasoned team of escrow officers who built their reputations on client service for more than a decade at Fidelity National Title.

Chris has a love for travel – having visited a number of destinations around the world. After returning to Portland , he has been involved in a number of community organizations, including children’s ministry and leading a community group at his church. He enjoys raising his three children with his wife and lives in Tualatin. His other interests include downhill skiing, mountain biking, and hiking.


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