Redwood Mortgage Investors Viii 10-Q 22 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	REDWOOD MORTGAGE INVESTORS VIII, L.P.
Entity Central Index Key	0000889123
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	000-27816
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-3158788
Entity Address, Address Line One	177 Bovet Road
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94402
City Area Code	650
Local Phone Number	365-5341
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash, in banks	$ 2,834	$ 963
Loan payments in trust	1	0
Principal	57,979	60,088
Advances	77	59
Accrued interest	1,004	570
Prepaid interests	(450)	(496)
Loan balances secured by deeds of trust	58,610	60,221
Allowance for credit losses	(120)	(55)
Loan balances secured by deeds of trust, net	58,490	60,166
Receivable from related party (Note 3)	20	68
Real estate owned (REO), net	5,911	5,911
Debt issuance costs, net	29	36
Other assets	69	49
Total assets	67,354	67,193
LIABILITIES AND PARTNERS' CAPITAL
Accounts payable	307	284
Payable to related party (Note 3)	65	154
Distributions and withdrawals to limited partners	2,630	0
Accrued liabilities	1,224	1,103
Line of credit	10,000	10,000
Mortgages payable	1,347	1,347
Total liabilities	15,573	12,888
Commitments and Contingencies (Note 8)
Partners’ capital
Schedule withdrawals of Limited partners capital	55,090	57,616
General partners’ deficit	(607)	(609)
Total partners’ capital	54,483	57,007
Receivable from manager (formation loan)	(2,702)	(2,702)
Partners’ capital, net of formation loan	51,781	54,305
Total liabilities and partners’ capital	$ 67,354	$ 67,193

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue
Interest income	$ 1,268	$ 1,320
Interest expense
Line of credit	(201)	(60)
Mortgages payable	(14)	(15)
Total interest expense	(215)	(75)
Net interest income	1,053	1,245
Late fees	3	4
Total revenue, net	1,056	1,249
Provision for credit losses	0	0
Operations expense
Mortgage servicing fees to Redwood Mortgage Corp.	221	223
Asset management fees to Redwood Mortgage Corp.	54	65
Costs from Redwood Mortgage Corp.	178	175
Professional services	473	351
REO, net (Note 5)	54	84
Other	10	1
Total operations expense	990	899
Net income	66	350
Limited partners (99%)	65	346
General partners (1%)	$ 1	$ 4

Consolidated Statements of In_2

Consolidated Statements of Income (Unaudited) (Parenthetical) - Redwood Mortgage Investors VIII [Member]	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Limited partners	99%	99%
General partners	1%	1%
Limited Partner [Member]
Limited partners	99%	99%
General Partner [Member]
General partners	1%	1%

Consolidated Statements of Chan

Consolidated Statements of Changes in Partners' Capital (Unaudited) - USD ($) $ in Thousands	Total	Capital Subject to Withdrawals Net [Member] Limited Partner [Member]	Partners Capital (Deficit) [Member] General Partner [Member]	Capital Units [Member]
Beginning balance at Dec. 31, 2021		$ 69,555	$ (626)	$ 68,929
Net income	$ 350	346	4	350
Distributions		(308)		(308)
Withdrawals		(3,245)		(3,245)
Ending balance at Mar. 31, 2022		66,348	(622)	65,726
Beginning balance at Dec. 31, 2022	54,305	57,616	(609)	57,007
Net income	66	65	1	66
Distributions		(207)		(207)
Withdrawals		(2,551)		(2,551)
Ending balance at Mar. 31, 2023	$ 51,781	55,090	(607)	54,483
Adoption of CECL		167	1	168
Balance, January 1, 2023		$ 57,783	$ (608)	$ 57,175

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities
Interest income received	$ 1,020	$ 1,055
Interest expense	(187)	(29)
Late fees and other loan income	1	21
Operations expense	(927)	(801)
Total cash (used in) provided by operating activities	(93)	246
Investing activities
Loans funded	(5,700)	(10,489)
Principal collected	3,853	2,355
Loan transferred from related mortgage fund	3,956	0
Advances (funded) collected	(17)	91
Total - Loans	2,092	(8,043)
Total cash provided by (used in) investing activities	2,092	(8,043)
Partners’ capital
Partner withdrawals, net of early withdrawal penalties	0	(3,208)
Early withdrawal penalties	(39)	(37)
Partner distributions	(89)	(308)
Cash distributions to partners, net	(128)	(3,553)
Advances	0	10,800
Repayments	0	(1,000)
Debt issuance costs	0	(57)
Cash provided by (used in) line of credit	0	9,743
RMC proceeds - formation loan	0	125
Total cash (used in) provided by financing activities	(128)	6,315
Net increase (decrease) in cash	1,871	(1,482)
Cash, beginning of period	963	3,903
Cash, end of period	2,834	2,421
Net income	66	350
Adjustments to reconcile net income to net cash (used in) provided by operating activities
Amortization of debt issuance costs	7	14
Change in operating assets and liabilities
Loan payments in trust	(1)	17
Accrued interest	(201)	(265)
Prepaid interest	(47)	0
Receivable from related party	48	(4)
Other assets	(20)	46
Accounts payable and accrued liabilities	144	73
Payable to related party	(89)	15
Total cash (used in) provided by operating activities	$ (93)	$ 246

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Cash Flows [Abstract]
Non cash financing activity in early withdrawal penalties	$ 2,500
Loans transferred to held for sale	0	$ 6,500
loan Distribution	$ 118

Organization and General

Organization and General	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Organization and General	NOTE 1 – ORGANIZATION AND GENERAL Redwood Mortgage Investors VIII, L.P., a California Limited Partnership (“RMI VIII” or “the partnership”), was formed in 1993 to engage in business as a mortgage lender and investor by making and holding-for-investment mortgage loans secured by California real estate, primarily by first and second deeds of trust. The partnership is externally managed by Redwood Mortgage Corp. (“RMC” or “the manager”). The general partners are RMC and Michael R. Burwell, the President, Secretary and Treasurer of RMC and its principal shareholder. RMC provides the personnel and services necessary to conduct the business as RMI VIII has no employees of its own. The general partners are entitled to one percent ( 1 %) of profits or loss of the partnership. The mortgage loans the partnership funds and/or invests in, are arranged and generally are serviced by RMC. In the opinion of management of RMC, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of normal, recurring adjustments, necessary to present fairly and accurately the consolidated financial information included therein. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the partnership’s Form 10-K for the year ended December 31, 2022 filed with the U.S. Securities and Exchange Commission (SEC). The results of operations for the three months ended March 31, 2023 are not necessarily indicative of the operating results to be expected for the full year. The rights, duties, and powers of the limited partners and general partners of the partnership are governed by the Limited Partnership Agreement (“Partnership Agreement”). Limited partners representing a majority of the outstanding units may, without the consent of the general partners, vote to: (i) dissolve the partnership; (ii) amend the Partnership Agreement subject to certain limitations; (iii) approve or disapprove the sale of all or substantially all of the assets of the partnership; and (iv) remove or replace one or all of the general partners. A majority in interest of partnership units is required to elect a new general partner to continue the partnership business after a general partner ceases to be a general partner due to its withdrawal. The following is a summary of certain provisions of the Partnership Agreement and is qualified in its entirety by the terms of the Partnership Agreement itself. Limited partners should refer to the Partnership Agreement for complete disclosure of its provisions. The manager is responsible for managing the business and affairs of RMI VIII, subject to the voting rights of the partners on specified matters. The manager acting alone has the power and authority to act for and bind the partnership. RMC is entitled to fees and reimbursements of qualifying costs as specified in the Partnership Agreement. The partnership’s primary investment objectives are to: • yield a high rate of return from mortgage lending, after the payment of certain fees and expenses to the general partners and their related mortgage funds; and • preserve and protect the partnership’s capital. Net income (losses) are allocated among the limited partners according to their respective capital accounts after one percent (1%) of the net income (losses) are allocated to the general partners. Investors should not expect the partnership to provide tax benefits of the type commonly associated with limited partnership tax shelter investments. The partnership’s net income, cash available for distribution, and net-distribution rate fluctuates depending on: • loan origination volume and the balance of capital available to lend; • the current and future interest rates negotiated with borrowers; • line of credit advances, repayments and the interest rate thereon; • loan sales to unaffiliated third parties, and any gains received thereon; • the amount of fees and cost reimbursements to RMC; • the timing and amount of other operation expense; and • the timing and amount of payments from RMC on the formation loan. Federal and state income taxes are the obligation of the partners, other than the annual California franchise tax and the California LLC cash receipts taxes paid by the partnership’s subsidiaries. The tax basis in the net assets of the partnership differs from the book basis by the amount of the allowance for credit losses and the amount of the valuation allowance for real estate owned. The ongoing sources of funds for loans are the proceeds (net of withdrawals from limited partners’ capital accounts and operation expense) from: • loan payoffs; • borrowers’ monthly principal and interest payments; • line of credit advances; • loan sales to unaffiliated third parties; • REO sales; • payments from RMC on the outstanding balance of the formation loan; and • earnings retained (i.e., not distributed) in partners’ capital accounts. The partnership intends to hold until maturity the loans in which it invests and does not presently intend to invest in mortgage loans primarily for the purpose of reselling such loans in the ordinary course of business; however, the partnership may sell mortgage loans (or fractional interests therein) when the manager determines that it appears to be advantageous for the partnership to do so, based upon then current interest rates, the length of time that the loan has been held by the partnership, the partnership’s credit risk and concentration risk and the overall investment objectives of the partnership. Loans sold to third parties may be sold for par, at a premium or, in the case of non-performing or under performing loans, at a discount. Partnership loans may be sold to third parties or to the manager or its related mortgage funds; however, any loan sold to the manager or a related mortgage fund thereof will be sold for a purchase price equal to the greater of (i) the par value of the loan or (ii) the fair market value of the loan. The manager will not receive commissions or broker fees with respect to loan sales conducted for the partnership; however, selling loans will increase partnership capital available for investing in new loans for which the manager will earn brokerage fees and other forms of compensation. Distributions to limited partners At the time of their subscription to the partnership, limited partners elected either to receive monthly, quarterly or annual cash distributions from the partnership, or to compound income in their capital account. If an investor initially elected to receive monthly, quarterly or annual distributions, such election, once made, is irrevocable. If the investor initially elected to compound income in their capital account, in lieu of cash distributions, the investor may, after three (3) years, change the election and receive monthly, quarterly or annual cash distributions. Income allocable to limited partners who elect to compound income in their capital account will be retained by the partnership for making further loans or for other proper partnership purposes and such amounts will be added to such limited partners’ capital accounts. The percentage of limited partners electing distribution of allocated net income, by weighted average to total partners’ capital was approximately 54 % and 57 % at March 31, 2023 and 2022, respectively. Capital withdrawals and early withdrawals There are substantial restrictions on transferability of units, and there is no established public trading and/or secondary market for the units. To provide liquidity to limited partners, the Partnership Agreement provides that limited partners, after the minimum five-year period, may withdraw all or a portion of their capital accounts in 20 quarterly installments or longer, as determined by the general partners in light of partnership cash flow, beginning the last day of the calendar quarter following the quarter in which the notice of withdrawal is given. A limited partner may liquidate all or a part of the limited partner’s capital account in four quarterly installments beginning on the last day of the calendar quarter following the quarter in which the notice of withdrawal is given, subject to a 10 % early withdrawal penalty applicable to any sums withdrawn prior to the time when such sums could have been withdrawn without penalty. There is a limited right of accelerated liquidation for an investor’s heirs upon an investor’s death. The partnership has not established a cash reserve from which to fund withdrawals and, accordingly, the partnership’s capacity to return a limited partner’s capital is subject to the availability of partnership cash. The general partner is under no obligation to sell loans from the portfolio in order to honor withdrawal requests, and the program can be restricted or suspended at any time. Cash flow is considered to be available only after all current partnership expenses have been paid (including compensation to the general partners and related mortgage funds) and adequate provision has been made for the payment of all periodic cash distributions on a pro rata basis which must be paid to limited partners who elected to receive such distributions upon subscription for units. Pursuant to the Partnership Agreement, no more than 20 % of the total limited partners’ capital account balances at the beginning of any year may be liquidated during any calendar year. Notwithstanding this 20% limitation, the general partners have the discretion to further limit the percentage of total limited partners’ capital accounts that may be withdrawn in order to comply with the safe harbor provisions of the regulations under Section 7704 of the Internal Revenue Code of 1986, as amended, to avoid the partnership being taxed as a corporation. If notices of withdrawal in excess of these limitations are received by the general partners, the priority of distributions among limited partners is determined as follows: first to those limited partners withdrawing capital accounts according to the 20 quarter or longer installment liquidation period, then to benefit plan investors withdrawing capital accounts after five years over four quarterly installments, then to executors, heirs, and other administrators withdrawing capital accounts upon the death of a limited partner and finally to all other limited partners withdrawing capital accounts. Except as provided above, withdrawal requests will be considered by the general partners in the order received . In the event the current level of withdrawal requests by limited partners continues, the general partners may elect to restrict or suspend future capital withdrawals, as permitted by the terms of the Partnership Agreement. Term of the partnership The partnership will continue until 2032, unless sooner terminated as provided in the Partnership Agreement. On May 19, 2023, the partnership filed a Consent Solicitation Statement pursuant to Section 14(a) of the Securities Exchange Act of 1934 with the SEC in connection with a proposed solicitation of consents from the limited partners to dissolve the partnership, liquidate its assets and wind up its affairs (the “Dissolution”) pursuant to a Plan of Dissolution (the “Plan” or “Plan of Dissolution”). If approved by an affirmative majority of the limited partnership interests (the “Requisite Consents”), the partnership will not be immediately terminated, but will continue until its affairs have been wound up. The partnership will cease making new loans and will only engage in business activities necessary or convenient to wind-up the partnership’s business and distribute partnership assets in accordance with the Plan, the Partnership Agreement and the California Uniform Limited Partnership Act of 2008 (the “Act”). If the Dissolution and Plan are approved by the Requisite Consents, the general partners will enter into the Plan within 15 days of the receipt of the Requisite Consents, and RMC, as manager of the partnership,will wind-up the affairs of the partnership commencing from the effective date of the Plan (the “Dissolution Date”) until the complete liquidation of the partnership’s assets and the termination of the partnership (the “Wind-Up Period”) in accordance with the Plan, the Partnership Agreement and the Act. Effective as of the Dissolution Date: (i) all limited partners, including limited partners who previously elected not to receive periodic distributions of partnership net income under Section 4.3 of the Partnership Agreement, will begin receiving quarterly distributions of the partnership’s net income (if any); and (ii) all scheduled withdrawals of limited partner capital made pursuant to Article 8 of the Partnership Agreement will terminate in favor of quarterly pro rata withdrawals to all limited partners of cash received from the liquidation of partnership assets (each, a “Capital Distribution” and collectively, the “Capital Distributions”) over the course of the Wind-Up Period and available to fund Capital Distributions. During the Wind-Up Period, the partnership will continue to be externally managed by RMC and RMC will, in such capacity, be solely responsible for managing partnership operations. RMC will liquidate the partnership’s assets as promptly as is consistent with obtaining the current fair value thereof, which may include: (i) collecting loan payments from borrowers under existing loan terms; (ii) selling loans to third parties; (iii) selling loans to either or both general partners or their affiliates, subject to the limitations set forth in the Partnership Agreement; (iv) enforcing delinquent loans through foreclosure or negotiating settlements with the borrowers and/or any guarantors or other obligors on such loans; (v) selling any REO held by the partnership; and (vi) taking any other actions determined by RMC to be consistent with recovering the fair market value of any partnership assets and authorized in the Partnership Agreement and the Plan. RMC will continue to collect loan servicing fees, cost reimbursements, and other fees received as manager of the partnership, in addition to the Dissolution Fee (as defined below), and the general partners will continue to collect asset management fees. Under the Partnership Agreement and Plan of Dissolution, all assets of the partnership, including proceeds from the sale of partnership assets, RMC’s repayment of the general partners’ capital deficit (i.e., the deficit restoration obligation) and the formation loan (primarily from the proceeds of the Dissolution Fee), and cash available from interest and principal payments on partnership loans will be applied and distributed in the following order of priority: • First, to the payment of operations expense, including liabilities to professional services providers and government agencies (principally property and other taxes), fees and cost reimbursements to RMC (including the Dissolution Fee), asset management fees to the general partners, loan administration and collection costs, and such other general and administrative expenses of the partnership’s business and compliance activities and then to the payment and discharge of all of the partnership’s then current debts and liabilities to banks (and any other lenders); and • Thereafter, quarterly, within seven (7) business days after the end of each calendar quarter, to the limited and general partners in proportion to their respective capital account balances, after taking into account income and loss allocations for the applicable calendar quarter. Quarterly net income, if any, will be distributed pro rata to all limited partners and by disbursement separate from capital distribution payments. Under the Plan, RMC will be entitled to a quarterly dissolution fee equal to seven percent (7.0%) of each capital distribution made to the limited partners over the course of the Wind-Up Period (the “Dissolution Fee”), which Dissolution Fee will be treated as an expense of the partnership and included in the allocation of income/losses to limited partners’ capital accounts. RMC expects to complete the wind-up activities approximately 12 to 18 months after the effective date of the Plan of Dissolution. Dissolution, however, can be an involved process which may depend on a number of factors, and some of these factors are beyond RMC’s control.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The partnership’s consolidated financial statements include the accounts of the partnership and its wholly-owned subsidiaries (consisting of single-member limited liability companies owning a single real property asset). All significant intercompany transactions and balances have been eliminated in consolidation. Management estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Such estimates involve significant level of uncertainty and have had or are reasonably likely to have a material impact on the partnership’s financial condition or results of operations. Such estimates relate principally to the determination of the allowance for credit losses (including the fair value of the underlying collateral), and the valuation of real estate owned. Actual results could differ materially from these estimates. Fair value estimates The fair value of real property (as to loan collateral and REO) is determined by exercise of judgment based on RMC’s management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values, and publicly available information on in-market transactions. Appraisals of commercial real property generally present three approaches to estimating value: 1) market-comparables or sales approach; 2) cost to replace; and 3) capitalized cash flows or income approach. These approaches may or may not result in a common, single value. The market-comparables approach may yield several different values depending on certain basic assumptions, including the consideration of adjustments made for any attributes specific to the real estate. Management has the requisite familiarity with the markets it lends in generally and of the properties lent on specifically to analyze sales-comparables and assess their suitability/applicability. Management is acquainted with market participants – investors, developers, brokers, and lenders – that are useful, relevant secondary sources of data and information regarding valuation and valuation variability. These secondary sources may have familiarity with and perspectives on pending transactions, successful strategies to optimize value, and the history and details of specific properties – on and off the market – that enhance the process and analysis that is particularly and principally germane to establishing value in distressed markets and/or property types. GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. Fair values of assets and liabilities are determined based on the fair value hierarchy established in GAAP. The hierarchy is comprised of three levels of inputs to be used. • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the partnership has the ability to access at the measurement date. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. • Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly in active markets and quoted prices for identical assets or liabilities that are not active, and inputs other than quoted prices that are observable or inputs derived from or corroborated by market data. • Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs reflect the partnership’s own assumptions about the assumptions market participants would use in pricing the asset or liability (including assumptions about risk). Unobservable inputs are developed based on the best information available in the circumstances and may include the partnership’s own data. Cash in banks Certain of the partnership’s cash balances in banks exceed federally insured limits of $ 250 thousand. The bank or banks in which funds are deposited are reviewed periodically for their general creditworthiness/investment grade credit rating. See Note 7 (Line of Credit) for compensating balance arrangements. Loans and interest income Loans are carried at amortized cost, which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the amounts paid out on the borrower’s behalf and any accrued interest on amounts paid out, until repaid by the borrower. For performing loans, interest is accrued daily on the principal plus advances, if any. In the normal course of the partnership’s operations, performing loans that are maturing or have matured may be renewed at then current market rates of interest and terms for new loans. (These loan extensions are not reported as new loans for financial reporting purposes.) The partnership may fund a specific loan net of an interest reserve ( one to two years ) to insure timely interest payments at the inception of the loan. Any interest reserve is amortized over the period that the amount is prepaid. In the event of an early loan payoff, any unapplied interest reserves would be first applied to any accrued but unpaid interest and then as a reduction of principal. Loans with a payment in arrears continue to recognize interest income as long as the loan is in the process of collection with the borrower and is considered to be well-secured. Loans are placed on non-accrual status if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (i.e., a notice of sale is filed and/or when the borrower files for bankruptcy) or when the loan is no longer considered well-secured (i.e., the LTV for the loan based on the estimated net realizable value of the collateral and the total principal, advances and accrued interest (at the note rate) is at or greater than eighty percent ( 80 %), seventy-five percent ( 75 %) for lands outside of metropolitan areas). When a loan is placed on non-accrual status, the accrual of interest is discontinued – beginning with the then current month - for accounting purposes only; however, previously recorded interest is not reversed. A loan may return to accrual status when all delinquent loan payments are cured and the loan becomes current in accordance with the terms of the loan agreement. In periods prior to January 1, 2023, loans were placed on non-accrual status if 180 days delinquent or earlier if management determined that the primary source of repayment would come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan was no longer considered well-secured. Payments on loans are applied in the following order: accrued interest, advances, and lastly to principal. Late fees are recognized in the period received. Pursuant to California regulatory requirements borrower payments are deposited into a trust account established by RMC with an independent bank and are presented on the balance sheet as “Loan payments in trust”. Funds are disbursed to the partnership as collected which can range from same day for wire transfers and up to two weeks after deposit for checks. The partnership funds loans with the intent to hold the loans until maturity. From time to time, the partnership may sell certain loans when the manager determines it to be in the best interest of the partnership . Loans are classified as held-for-sale once a decision has been made to sell loans and the loans held-for-sale have been identified. Loans classified as held for sale are carried at the lower of cost or fair value. Allowance for credit losses Loan balances (i.e., the sum of the unpaid principal, advances and accrued interest) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the net realizable value (i.e., fair value less the cost to sell) of the collateral, net of any senior liens exceeds the loan balance. For a loan that is deemed collateral dependent for repayment, a provision for credit losses is recorded to adjust the allowance for credit losses to an amount such that the net carrying amount (unpaid principal, advances plus interest accrued, i.e., interest owed net of foregone interest for loans in non-accrual status) is reduced to the lower of the loan balance or the estimated fair value of the related collateral, net of any senior debt and claims and costs to sell. As of January 1, 2023, the partnership adopted Accounting Standards Codification 326, Financial Instruments – Credit Losses using the modified retrospective approach, which requires a lifetime, current expected credit loss (CECL) measurement objective for the recognition of credit losses at the time a loan is originated or acquired. The allowance for credit losses is adjusted each period for changes in expected lifetime credit losses for loans and accrued interest. The determination of the amount of the allowance for credit losses considers historical loss experience, current fair value of collateral and the resultant LTV, current real estate and financial markets, as well as reasonable and supportable forecasts about future economic scenarios. The forward-looking estimates consider the likelihood that any combination of events would adversely impact economic conditions and real estate markets in California such that the substantial protective equity existing for the loans would no longer be sufficient to collect the recorded amounts of principal, advances and accrued interest due on the loan. The limited number of loans and the short terms for which the loans are written enable a loan-by-loan analysis to determine the risk of loss. The primary determinate in the analysis is the LTV, and consideration of lien position of deed of trust. The analysis also considers the vintage in which the secured loans originated. The ultimate collectability of the amounts owed is reliant on the estimate of the fair value of the real property collateral securing the loans. Such estimation is not variant by vintage or time on file. Such considerations are consistent with the ‘no-credit-losses’ experience of the partnership over the preceding 5+ years. The partnership charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. Any amounts collected after a charge off is deemed a recovery. If the loan goes to foreclosure, an updated appraisal is ordered and the recorded investment in the loan is adjusted to the net realizable value of the real estate to be acquired. Prior to the adoption of the CECL accounting model, if a loan modification was agreed to and was to result in an economic concession to the borrower (i.e., a significant delay or reduction in cash flows compared to the original note), the modification would have been deemed to be a troubled debt restructuring (“TDR”). The Company did not have any TDRs for the year ended December 31, 2022 . Real estate owned (REO) Real estate owned (“REO”) is property acquired in full or partial settlement of loan obligations generally through foreclosure and is recorded at acquisition at the property’s fair value less estimated costs to sell. The fair value estimates are derived from information available in the real estate markets including similar property, and often require the experience and judgment of third parties such as commercial real estate appraisers and brokers. The estimates figure materially in calculating the value of the property at acquisition, the level of charge to the allowance for credit losses and any subsequent valuation reserves. After acquisition, costs incurred relating to the development and improvement of property are capitalized to the extent they do not cause the recorded value to exceed the net realizable value, whereas costs relating to holding and disposition of the property are expensed as incurred. REO is analyzed periodically for changes in fair values and any subsequent write down is charged to REO, net on the statements of income. Any recovery in the fair value subsequent to such a write down is recorded, not to exceed the value recorded at acquisition. Recognition of gains on the sale of real estate is dependent upon the transaction meeting certain criteria related to the nature of the property and the terms of the sale including potential seller financing. Accrued liabilities Accrued liabilities at March 31, 2023 and December 31, 2022 were approximately $ 1.2 million and $ 1.1 million, respectively, the significant components of which are accrued professional and consulting fees (approximately $ 1 million and $ 993 thousand, respectively), accrued REO property taxes and mortgage interest expense (approximately $ 51 thousand and $ 13 thousand, respectively) and accrued interest on the line of credit (approximately $ 68 thousand and $ 61 thousand, respectively). Debt issuance costs Debt issuance costs are the fees and commissions incurred in the course of obtaining a line of credit for services from banks, law firms and other professionals and are amortized on a straight-line basis, which approximates the interest method, as interest expense over the term of the line of credit. Reclassification A reclassification has been made in the prior year statement of cash flows to reclassify the presentation of formation loan collected from changes in partners' capital to a separate line item within the financing section of the statement of cash flows. There was no change in total cash used in financing activities. Recently issued accounting pronouncements None at March 31, 2023 are applicable to the partnership.

General Partners and Other Rela

General Partners and Other Related Parties	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
General Partners and Other Related Parties	NOTE 3 – GENERAL PARTNERS AND OTHER RELATED PARTIES The Partnership Agreement provides for fees as compensation to the manager and for reimbursement of qualifying expenses, as detailed below. Mortgage servicing fees The manager acting as servicing agent with respect to all loans is entitled to receive a servicing fee of up to 1.5 % annually of the unpaid principal balance of the loan portfolio. The mortgage servicing fees are accrued monthly on all loans. Remittance to RMC is made monthly unless the loan has been assigned a specific loss reserve, at which point remittance is deferred until the specific loss reserve is no longer required, or the property has been acquired by the partnership. Asset Management Fees The general partners are entitled to monthly fees for managing the business and affairs of RMI VIII, including management of the partnership’s loan portfolio and operations, of up to 1/32 of 1% of the “net asset value” of the partnership (3/8 of 1% annually). Costs from RMC The manager is entitled to request reimbursement for operations expense incurred on behalf of RMI VIII, including without limitation, RMC’s personnel and non-personnel costs incurred for qualifying business activities, including investor services, accounting, tax and data processing, postage and out-of-pocket general and administration expenses. Qualifying personnel/compensation costs and consulting fees are tracked by business activity, and then costs of qualifying activities are allocated to RMI VIII pro-rata based on the percentage of RMI VIII’s limited partners’ capital to the total capital of all related mortgage funds managed by RMC. Certain other non-personnel, qualifying costs such as postage and out-of-pocket general and administrative expenses can be tracked by RMC as specifically attributable to RMI VIII; other non-personnel, qualifying costs (e.g., RMC’s accounting and audit fees, legal fees and expenses, occupancy, and insurance premiums) are allocated pro-rata based on the percentage of RMI VIII's partners' capital to total capital of the related mortgage funds managed by RMC. Commissions and fees are paid by the borrowers to RMC - Brokerage commissions, loan originations For fees in connection with the review, selection, evaluation and negotiation of loans (including extensions), the general partners may collect loan brokerage commissions (points) limited to an amount not to exceed 4 % of the total partnership assets per year. The loan brokerage commissions are paid by the borrowers to RMC, and thus are not an expense of the partnership. Loan brokerage commissions paid by the borrowers to RMC approximated $ 150 thousand and $ 214 thousand for the three months ended March 31, 2023 and 2022, respectively. - Other fees RMC receives fees for processing, notary, document preparation, credit investigation, reconveyance and other mortgage related services. The amounts received are customary for comparable services in the geographical area where the property securing the loan is located, payable solely by the borrower and not by the partnership. Formation loan Commissions for sales of limited partnership units paid to broker-dealers (“B/D sales commissions”) were paid by RMC and were not paid directly by the partnership out of offering proceeds. Instead, the partnership advanced to RMC amounts sufficient to pay the B/D sales commissions and premiums paid to partners in connection with unsolicited orders up to 7 % of offering proceeds. The receivable arising from the advances is unsecured and non-interest bearing and is referred to as the “formation loan”. Since its inception, the partnership’s advances totaled $ 22.6 million , of which $ 2.7 million remains outstanding at March 31, 2023. RMC is repaying the formation loan principally from loan brokerage commissions earned on loans, early withdrawal penalties on partner withdrawals and other fees paid by the partnership. If both or either one of the initial general partners is removed as a general partner by the vote of holders of a majority of the limited partnership units, and if such successor or additional general partner(s) begins using any other loan brokerage firm for the placement of loans, RMC will be immediately released from any further obligation under the formation loans (except for a proportionate share of the principal installment due at the end of that year). In addition, if both of the general partners are removed, no successor general partners are elected, the partnership is liquidated and RMC is no longer receiving any payments for services rendered, the debt on the formation loans shall be forgiven and RMC will be immediately released from any further obligations under the formation loans. As such, the formation loan is presented as contra equity. The formation loan transactions for the three months ended March 31 are presented in the following table ($ in thousands). 2023 2022 Balance, January 1 $ 2,702 $ 3,361 Payments received from RMC — ( 125 ) Balance, March 31 $ 2,702 $ 3,236 The formation loan is repayable by RMC in annual installments of approximately $ 650 thousand which may be paid by RMC either in full on December 31st of each calendar year during the term of the partnership (each, an “Annual Payment Date”) or in four equal quarterly installments beginning on the Annual Payment Date and continuing thereafter on the last day of each calendar quarter in the following year. Any amount of the formation loan balance remaining unpaid on the last day of the partnership term is payable in full on that date. Limited partner capital - withdrawals Withdrawals of limited partners’ capital for the three months ended March 31 are presented in the following table ($ in thousands). Withdrawals 2023 2022 Without penalty $ 2,170 $ 2,890 With penalty 381 355 Total $ 2,551 $ 3,245 Scheduled, at March 31, $ 12,485 $ 20,487 Percentage of scheduled withdrawals in end of period capital 22.7 % 30.9 % Scheduled withdrawals of limited partners’ capital in periods as of and after March 31, 2023 are presented in the following table ($ in thousands). 2023 $ 5,189 2024 4,083 2025 1,934 2026 952 2027 299 Thereafter 28 Total $ 12,485 Scheduled withdrawals of limited partners’ capital of approximately $ 131 thousand are subject to early withdrawal penalties as the limited partners elected the accelerated payout option as permitted in the Partnership Agreement. Other related party transactions - Payable to/receivable from related parties From time to time, in the normal course of business operations, the partnership may have payables to and/or receivables from related parties. At March 31, 2023 , the partnership had a payable to related parties of approximately $ 2.7 million consisting primarily of quarterly withdrawals of approximately $ 2.5 million, monthly distributions – for those partners electing such distributions – of approximately $ 118 thousand, and accounts payable due to the manager of approximately $ 65 thousand. The receivables from related parties of approximately $ 20 thousand consisted of accounts receivable from a related fund at March 31, 2023. The related party transactions were settled in May 2023. At December 31, 2022 , the payable to related parties of approximately $ 154 thousand consisted of accounts payable and cost reimbursements to the manager. At December 31, 2022 , the receivable from related parties of approximately $ 68 thousand consisted of accounts receivable from related mortgage funds. The related party transactions were settled in March 2023. - Loan transactions with related parties In the ordinary course of business, performing loans may be transferred by executed assignment, in-part or in-full, between the RMC managed mortgage funds at par, which approximates fair value. In the three months ended March 31, 2023 , RMI VIII transferred to related mortgage funds five loans with aggregate principal of approximately $ 4 million at par value, which approximates fair value. The related mortgage fund paid cash for the loans and RMI VIII has no continuing involvement with the loans. No loans were transferred from related mortgage funds to RMI VIII. No loans were transferred to or from related mortgage funds in the three months ended March 31, 2022 .

Loans

Loans	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Loans	NOTE 4 – LOANS Loans generally are funded at a fixed interest rate with a loan term of up to five years. Loans acquired are generally done so within the first six months of origination and are purchased at par value, which approximates fair value. See Note 3 (General Partners and Other Related Parties) for a description of loans transferred by executed assignments between the related mortgage funds. The partnership’s loans are all secured by real estate in coastal California metropolitan areas, which is a strategic market. The portfolio segments are first and second trust deeds mortgages and the key credit quality indicator is the LTV ratio. First mortgages are predominant, but second lien deeds of trust are not infrequent nor insignificant. First-mortgage loans comprised 95 % of the portfolio at March 31, 2023 ( 93 % at December 31, 2022). Secured loans unpaid principal balance (principal) Secured loan transactions for the three months ended March 31 are summarized in the following table ($ in thousands). 2023 Total First Trust Deeds Second Trust Deeds Principal, beginning of period $ 60,088 $ 55,803 $ 4,285 Loans funded 5,700 4,200 1,500 Principal collected ( 3,853 ) ( 2,749 ) ( 1,104 ) Loans transferred to related mortgage fund ( 3,956 ) ( 2,024 ) ( 1,932 ) Principal, end of period $ 57,979 $ 55,230 $ 2,749 During the three months ended March 31, 2023 , the partnership extended one maturing loan with aggregated principal of approximately $ 1.3 million, which is not included in the activity shown in the table above. The loan was extended for one year , and was current and deemed well collateralized (i.e., the LTV for the collateral was within lending guidelines). Interest rates charged to borrowers may be adjusted in conjunction with the loan extensions to reflect current market conditions. As of March 31, 2023 , there were no commitments to lend outstanding and no construction or rehabilitation loans outstanding. Loan characteristics Secured loans had the characteristics presented in the following table ($ in thousands). March 31, December 31, 2023 2022 Number of secured loans 16 21 First trust deeds 14 18 Second trust deeds 2 3 Secured loans – principal $ 57,979 $ 60,088 First trust deeds $ 55,230 $ 55,803 Second trust deeds $ 2,749 $ 4,285 Secured loans – lowest interest rate (fixed) 7.3 % 7.3 % Secured loans – highest interest rate (fixed) 12.0 % 10.8 % Average secured loan – principal $ 3,624 $ 2,861 Average principal as percent of total principal 6.2 % 4.8 % Average principal as percent of partners’ capital, net of formation loan 7.0 % 5.3 % Average principal as percent of total assets 5.4 % 4.3 % Largest secured loan – principal $ 9,000 $ 9,000 Largest principal as percent of total principal 15.5 % 15.0 % Largest principal as percent of partners’ capital, net of formation loan 17.4 % 16.6 % Largest principal as percent of total assets 13.4 % 13.4 % Smallest secured loan – principal $ 637 $ 437 Smallest principal as percent of total principal 1.1 % 0.7 % Smallest principal as percent of partners’ capital, net of formation loan 1.2 % 0.8 % Smallest principal as percent of total assets 0.9 % 0.7 % Number of California counties where security is located 8 10 Largest percentage of principal in one California county 30.4 % 30.7 % As of March 31, 2023, 11 loans with principal of approximately $ 43.3 million provide for monthly payments of interest only, with the principal due at maturity, and 5 loans with principal of approximately $ 14.6 million (representing approximately 25 % of the aggregate principal of the partnership’s loan portfolio) provide for monthly payments of principal and interest, typically calculated on a 30 -year amortization, with the remaining principal due at maturity. As of March 31, 2023, there were two loans in second lien position. The aggregate principal of these loans is approximately $ 2.8 million and the weighted average LTV at loan closing is 50.5 % . Both loans were performing as of March 31, 2023 . As of March 31, 2023 , there are four loans each with principal in excess of 10 % of the total outstanding principal. The aggregate principal of these loans is approximately $ 32.1 million and the weighted average LTV at loan closing is 54.2 %. The loans were in first lien position. • The partnership’s largest loan, with principal of approximately $ 9 million (LTV 61 %) is secured by an office building in the City of Orange in Orange County, bears an interest rate of 7.99 % and matures on September 1, 2025 . • The second loan, with principal of approximately $ 8.8 million (LTV 26 %) is secured by a commercial building in the City of Santa Clara in Santa Clara County, bears an interest rate of 8.375 % and matures on July 1, 2027 . • The third loan, with principal of approximately $ 8 million (LTV 62 %) is secured by a commercial building in the City and County of San Francisco, bears an interest rate of 8.375 % and matured on April 1, 2023 . • The fourth loan, with principal of approximately $ 6.3 million (LTV 75 %) is secured by a multifamily building in the City and County of San Francisco, bears an interest rate of 7.75 % and matured on April 1, 2023 . Property type Secured loans summarized by property type are presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Loans Principal Percent Loans Principal Percent Single family (1) 2 $ 3,354 6 % 4 $ 5,874 10 % Multi-family 2 7,550 13 3 8,326 14 Commercial 10 45,774 79 12 44,587 74 Land 2 1,301 2 2 1,301 2 Total principal, secured loans 16 $ 57,979 100 % 21 $ 60,088 100 % (1) Single family includes 1-4 unit residential buildings, condominium units, townhouses and condominium complexes. At March 31, 2023, single family consists of 2 loans with aggregate principal of approximately $ 3.4 million that are non-owner occupied. At December 31, 2022 , single family consisted of 4 loans with aggregate principal of approximately $ 5.9 million that were non-owner occupied. Lien position/LTV at origination At funding, secured loans had the lien positions presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Loans Principal Percent Loans Principal Percent First trust deeds 14 $ 55,230 95 % 18 $ 55,803 93 % Second trust deeds 2 2,749 5 3 4,285 7 Total principal, secured loans 16 57,979 100 % 21 60,088 100 % Liens due other lenders at loan closing 9,681 8,956 Total debt $ 67,660 $ 69,044 Appraised property value at loan closing $ 137,894 $ 138,924 LTV (weighted average) at loan closing 54.5 % 55.4 % Distribution of secured loans-principal by California counties The distribution of secured loans within California by counties is presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Principal Percent Principal Percent San Francisco Bay Area (2) San Francisco $ 17,645 30.4 % $ 18,425 30.7 % San Mateo — 0.0 2,519 4.2 Santa Clara 12,249 21.1 12,266 20.4 Solano 3,550 6.1 3,550 5.9 Marin 1,500 2.6 1,099 1.8 Alameda 1,249 2.2 1,687 2.8 36,193 62.4 39,546 65.8 Stanislaus 1,301 2.2 1,301 2.2 Northern California Total 37,494 64.6 40,847 68.0 Southern California Coastal Los Angeles 4,685 8.1 5,597 9.3 Orange 15,800 27.3 11,600 19.3 Santa Barbara — 0.0 2,044 3.4 Southern California Total 20,485 35.4 19,241 32.0 Total principal, secured loans $ 57,979 100.0 % $ 60,088 100.0 % (2) Includes the Silicon Valley Scheduled maturities/Secured loans-principal Secured loans scheduled to mature in periods as of and after March 31, 2023 are presented in the following table ($ in thousands). First Trust Deeds Second Trust Deeds Loans Principal Percent Loans Principal Loans Principal 2023 (scheduled to mature after March 31) 6 $ 23,062 40 % 6 $ 23,062 — $ — 2024 4 7,614 13 3 6,114 1 1,500 2025 1 9,000 16 1 9,000 — — 2026 1 1,249 2 — — 1 1,249 2027 2 12,369 21 2 12,369 — — Total scheduled maturities 14 53,294 92 12 50,545 2 2,749 Matured (3) 2 4,685 8 2 4,685 — — Total principal, secured loans 16 $ 57,979 100 % 14 $ 55,230 2 2,749 (3) See Delinquency/Secured loans with payments in arrears below for additional information on matured loans. Scheduled maturities are presented based on the most recent in-effect agreement with the borrower, including forbearance agreements. As a result, matured loans at March 31, 2023, for the scheduled maturities table may differ from the same captions in the tables of delinquencies and payments in arrears that are based on the loan terms and do not consider forbearance agreements. For matured loans, the partnership may continue to accept payments while pursuing collection of principal or while negotiating an extension of the maturity date. Delinquency/Secured loans Secured loans principal summarized by payment-delinquency status are presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Loans Principal Loans Principal Current 11 $ 40,599 18 $ 54,359 Past Due 30-89 days 3 11,555 — — 90-179 days 1 2,105 2 2,009 180 or more days 1 3,720 1 3,720 Total past due 5 17,380 3 5,729 Total principal, secured loans 16 $ 57,979 21 $ 60,088 At March 31, 2023 and December 31, 2022 , there were no loan forbearance agreements in effect. All five loans past due at March 31, 2023 were in first lien position and had principal payments in arrears of approximately $ 4.7 million. Delinquency/Secured loans with payments in arrears Payments in arrears for secured loans ( 5 loans) at March 31, 2023 are presented in the following tables ($ in thousands). Loans Principal Interest (4) At March 31, 2023 Past Monthly Past Monthly Past Monthly Total Past due 30-89 days (1-3 payments) 1 2 $ 965 $ — $ — $ 73 $ 1,038 90-179 days (4-6 payments) — 1 — 2 — 55 57 180 or more days (more than 6 1 — 3,720 — 533 — 4,253 Total past due 2 3 $ 4,685 $ 2 $ 533 $ 128 $ 5,348 (4) Interest for March 2023 is due on April 1 , 2023 and is not included in the amounts of payments in arrears at March 31, 2023 . Secured loans with payments in arrears, principal by LTV and lien position at March 31, 2023 are presented in the following table ($ in thousands). The LTVs shown in this table use the appraisals at origination of the loans. Secured loans with payments in arrears, principal LTV (5) First trust Percent (6) Second trust Percent (6) Total Percent (6) <40% $ — 0.0 % $ — 0.0 % $ — 0.0 % 40-49% — 0.0 — 0.0 — 0.0 50-59% 3,565 6.1 — 0.0 3,565 6.1 60-69% 11,710 20.2 — 0.0 11,710 20.2 Subtotal <70% 15,275 26.3 — 0.0 15,275 26.3 70-79% 2,105 3.6 — 0.0 2,105 3.6 Subtotal <80% 17,380 29.9 — 0.0 17,380 29.9 ≥80% — 0.0 — 0.0 — 0.0 Total $ 17,380 29.9 % $ — 0.0 % $ 17,380 29.9 % (5) LTV classifications in the table above are based on principal, advances and interest unpaid at March 31, 2023 . (6) Percent of total principal, secured loans ($ 57.9 million) at March 31, 2023 . Non-accrual status/Secured loans Secured loans in non-accrual status are summarized in the following table ($ in thousands). March 31, 2023 December 31, 2022 Number of loans — 1 Principal $ 3,720 Advances 60 Accrued interest (7) 233 Total recorded investment $ 4,013 Foregone interest $ 233 (7) Accrued interest in the table above is the amount of interest accrued prior to the loan being placed on non-accrual status, net of any payments subsequently. In conjunction with the adoption of ASC 326 (CECL), the partnership changed its guidelines for non-accrual status and recognized a cumulative-effect adjustment (with an increase to partners’ capital) of $ 233 thousand to recognize previously foregone interest for loans designated non-accrual at December 31, 2022. In periods prior to January 1, 2023, loans were placed on non-accrual status if 180 days delinquent or earlier if management determined that the primary source of repayment would come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan was no longer considered well-secured. Provision/allowance for credit losses Activity in the allowance for credit losses for the three months ended March 31 is presented in the following table ($ in thousands). 2023 2022 Principal and Advances Interest Total Principal and Advances Interest Total Balance, December 31 $ 30 $ 25 $ 55 $ 30 $ 25 $ 55 Adoption of ASC 326 (CECL) 30 35 65 — — — Balance, January 1 60 60 120 30 25 55 Provision (recovery) for credit losses — — — — — — Charge-offs — — — — — — Balance, March 31 $ 60 $ 60 $ 120 $ 30 $ 25 $ 55 Each secured loan is reviewed quarterly for its delinquency, LTV adjusted for the most recent valuation of the underlying collateral, remaining term to maturity, borrower’s payment history and other factors. In periods prior to January 1, 2023, the partnership followed the incurred loss model for recognition of credit losses and had recorded an allowance for loan losses of principal and interest totaling approximately $ 55 thousand to cover incurred, but not known, eventualities that occur from time to time, even though the secured loans had protective equity such that collection was deemed probable for all recorded amounts due on the loan. Such eventualities include the manager deeming it in the best interest of the partnership to agree to concessions to borrowers and/or senior-lien lenders to facilitate a refinance or a sale of the collateral primarily for secured loans in second lien position. In conjunction with the adoption of ASC 326 (CECL), the partnership recognized a cumulative-effect adjustment (with a decrease to partners’ capital) of $ 65 thousand to the allowance for credit losses to recognize lifetime expected credit losses for secured loans at December 31, 2022. The limited number of loans (16) – aided by the fact that four (4) of the loans comprise a significant portion of loan principal (approximately $ 32.1 million of the $ 58 million of loan principal) and the short terms for which the loans are written - enabled the manager to do a loan-by-loan analysis to determine the risk of loss. The analysis included projecting the outstanding principal for loans – individually and in total, by lien position – until maturity to determine the count, amount and weighted average LTV of the loans for future quarter and year ends. First Trust Deeds Second Trust Deeds Loans Principal LTV (9) Loans Principal LTV (9) Loans Principal LTV (9) 2023 (8) 8 $ 30,232 36.7 % 6 $ 27,483 36.4 % 2 $ 2,749 40.2 % 2024 4 22,619 47.0 3 21,369 46.0 1 1,250 63.6 2025 3 13,619 37.8 2 12,369 35.2 1 1,250 63.6 2026 2 12,369 35.2 2 12,369 35.2 — — 0.0 2027 — — 0.0 — — 0.0 — — 0.0 (8) For purposes of this analysis, loans past maturity as of March 31, 2023 , and loans subsequently maturing are expected to be paid by the calendar year end. (9) The LTVs shown in this table are updated for any appraisals ordered and received by the manager after origination of the loan. As indicated by the tables above, there is no future period covered in the analysis – nor is there any individual loan – in which a real estate market decline in values is likely to occur that would be sufficient to offset the substantial protective equity in the secured-loan portfolio (and in the individual loans) sufficient to put at risk collection of amounts owed under the notes, secured by the deeds of trust. In arriving at the determination, the manager consulted a range of banking/industry and academic studies and forecasts. In performing the analysis, the manager considered the vintages in which the secured loans originated. The ultimate collectability of the amounts owed is reliant on the estimation of the fair value of the real property collateral securing the loans. Such estimation is not variant by vintage. Further there is no evidence, nor any indication in the analysis, that the ultimate collectability of the amounts owed fluctuates with the time on file or vintage. Such considerations are consistent with the ‘no-credit-losses’ experience of the partnership over the preceding 5+ years. Secured loans, principal LTV (10) First trust Percent Count Second trust Percent Count Total Percent <40% $ 13,019 22.5 % 2 1,500 2.6 % 1 $ 14,519 25.1 % 40-49% 664 1.1 1 — 0.0 — 664 1.1 50-59% 7,115 12.3 3 — 0.0 — 7,115 12.3 60-69% 22,597 39.0 5 1,249 2.1 1 23,846 41.1 Subtotal <70% 43,395 74.9 11 2,749 4.7 2 46,144 79.6 70-79% 11,835 20.4 3 — 0.0 — 11,835 20.4 Subtotal <80% 55,230 95.3 14 2,749 4.7 2 57,979 100.0 ≥80% — 0.0 — — 0.0 — — 0.0 Total $ 55,230 95.3 % 14 $ 2,749 4.7 % 2 $ 57,979 100.0 % (10) LTV classifications in the table above are based on principal, advances and interest unpaid at March 31, 2023 .

Real Estate Owned (REO) and Mor

Real Estate Owned (REO) and Mortgages Payable	3 Months Ended
	Mar. 31, 2023
Real Estate [Abstract]
Real Estate Owned (REO) and Mortgages Payable	NOTE 5 – REAL ESTATE OWNED (REO) AND MORTGAGE PAYABLE REO at March 31, 2023 was comprised of three properties with a carrying value of approximately $ 5.9 million. • In Los Angeles County (Hollywood Hills), two single-family residences on separate, adjoining parcels. • In San Francisco County, a real estate interest comprised of a condominium unit consisting of storage lockers and signage rights for the exterior façade of the building. There were no REO transactions or valuation allowance adjustments during the three months ended March 31, 2023 and 2022. The two Hollywood Hills single-family residences were acquired in June 2020 by foreclosure sales. The borrower contested the foreclosure sales by filing California state court actions. One of these actions was dismissed by the trial Court and the dismissal was appealed by the borrower. An Appellate Court affirmation of the dismissal is pending further potential appeal. The occupancy of one of the two properties is being contested. A remaining action (not related to property title) remains pending . There is a mortgage note payable secured by a first trust deed on one of the Hollywood Hills properties that matures November 1, 2044. Principal was approximately $ 1.3 million at March 31, 2023 . Monthly payments are approximately $ 8 thousand, with interest at 4.125 % until October 31, 2024 after which interest is calculated at LIBOR plus 2.25 %. As of March 31, 2023 , payments on the mortgage note payable were paid through to September 30, 2022. Principal and interest in arrears (5 payments as of March 31, 2023; 6 months of interest) approximated $ 52 thousand (interest payable approximated $ 28 thousand). At March 31, 2023 , accrued liabilities includes accrued property taxes of approximately $ 22 thousand and prepaid insurance of approximately $ 4 thousand. Accounts payable at March 31, 2023 includes $ 231 thousand for negative escrow and unpaid late charges. REO at March 31, 2022 was comprised of the three properties above and two other properties with a total carrying value of approximately $ 8.3 million. • In San Francisco County, 1 residential unit in a condominium complex. • In Stanislaus County, approximately 14 acres of undeveloped land zoned commercial. REO, net REO, net (in operations expense/holding costs) were $ 54 thousand and $ 84 thousand for the three months ended March 31, 2023 and 2022 , respectively, and was net of other income principally of month-to-month rents received of approximately $ 3 thousand for the three months ended March 31, 2023 and 2022 for unit-storage lockers and signage in San Francisco County.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE The following methods and assumptions are used when estimating fair value (Level 3 inputs). Secured loans/performing Due to the nature of the partnership’s loans and borrowers the fair value of loan balances secured by deeds of trust is deemed to approximate the recorded amount (per the consolidated financial statements) as the partnership's loans: • are of shorter terms at origination than commercial real estate loans by institutional lenders and conventional single-family home mortgage lenders; • are written without a prepayment penalty causing uncertainty/a lack of predictability as to the expected duration of the loan; and • have limited marketability and are not yet sellable into an established secondary market. Secured loans, with payments in arrears The fair value of secured non-performing loans is the lesser of the fair value of the collateral or the enforceable amount of the note. Secured non-performing loans are collateral dependent because it is expected that the primary source of repayment will not be from the borrower but rather from the collateral. The fair value of the collateral is determined on a nonrecurring basis by exercise of judgment based on management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values and publicly available information on in-market transactions (Level 3 inputs). When the fair value of the collateral exceeds the enforceable amount of the note, the borrower is likely to redeem the note. Accordingly, third party market participants would generally pay the fair value of the collateral, but no more than the enforceable amount of the note. The following methods and assumptions are used to determine the fair value of the collateral securing a loan. Single family – Management’s preferred method for determining the fair market value of its single-family residential assets is the sale comparison method. Management primarily obtains sales comparables (comps) via its subscription to the RealQuest service, but also uses free online services such as Zillow.com and other available resources to supplement this data. Sale comps are reviewed and adjusted for similarity to the subject property, examining features such as proximity to subject, number of bedrooms and bathrooms, square footage, sale date, condition and year built. If applicable sale comps are not available or deemed unreliable, management will seek additional information in the form of brokers’ opinions of value or appraisals. Multi-family residential – Management’s preferred method for determining the aggregate retail value of its multifamily units is the sale comparison method. Sale comps are typically provided in appraisals, or by realtors who specialize in multi-family residential properties. Sale comps are reviewed for similarity to the subject property, examining features such as proximity to subject, rental income, number of units, composition of units by the number of bedrooms and bathrooms, square footage, condition, amenities and year built. Management’s secondary method for valuing its multifamily assets as income-producing rental operations is the direct capitalization method. In order to determine market cap rates for properties of the same class and location as the subject, management refers to published data from reliable third-party sources such as the CBRE Cap Rate Survey. Management applies the appropriate cap rate to the subject’s most recent available annual net operating income to determine the property’s value as an income-producing project. When adequate sale comps are not available or reliable net operating income information is not available or the project is under development or is under-performing to market, management will seek additional information and analysis to determine the cost to improve and the intrinsic fair value and/or management will seek additional information in the form of brokers’ opinion of value or appraisals. Commercial buildings – Management’s preferred method for determining the fair value of its commercial buildings is the sale comparison method. Sale comps are typically provided in appraisals, or by realtors who specialize in commercial properties. Sale comps are reviewed for similarity to the subject property, examining features such as proximity to subject, rental income, number of units, composition of units, common areas, and year built. Management’s secondary method for valuing its commercial buildings is the direct capitalization method. In order to determine market cap rates for properties of the same class and location as the subject, management refers to reputable third-party sources such as the CBRE Cap Rate Survey. Management then applies the appropriate cap rate to the subject’s most recent available annual net operating income to determine the property’s value as an income-producing commercial rental project. When adequate sale comps are not available or reliable net operating income information is not available or the project is under development or is under-performing to market, management will seek additional information and analysis to determine the cost to improve and the intrinsic fair value and/or management will seek additional information in the form of brokers’ opinion of value or appraisals. Commercial land – Commercial land has many variations and uses, thus requiring management to employ a variety of methods depending upon the unique characteristics of the subject land, including a determination of its highest and best use. Management may rely on information in the form of a sale comparison analysis (where adequate sale comps are available), brokers’ opinion of value, or appraisal.

Line of Credit

Line of Credit	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Line of Credit	NOTE 7 – LINE OF CREDIT Activity involving the line of credit for the three months ended March 31 is presented in the following table ($ in thousands). 2023 2022 Balance, January 1 $ 10,000 $ — Draws — 10,800 Repayments — ( 1,000 ) Balance, March 31, $ 10,000 $ 9,800 Line of credit - average daily balance $ 10,000 $ 3,758 In March 2020, RMI VIII entered into a revolving line of credit and term loan agreement with Western Alliance Bank (“bank”) which is governed by the terms of the Business Loan Agreement (Revolving Line of Credit and Term Loan Agreement) between the bank and the partnership (“original credit agreement”), which was amended and modified by the First Loan Modification Agreement made effective March 4, 2022 (the “modification agreement” and together with the original credit agreement, the “credit agreement of 2022”). Under the terms of the credit agreement of 2022, RMI VIII can borrow up to a maximum principal of $ 10 million subject to a borrowing base calculation set forth in the credit agreement and the amounts advanced under the credit agreement are secured by a first priority security interest in the notes and deeds of trust of the pledged loans included in the borrowing base. The maturity date is March 13, 2024 when all amounts outstanding are then due. RMI VIII has the option at the maturity date to convert - for a fee of one-quarter of one percent ( 0.25 %) – the then outstanding principal balance to a two-year term loan maturing in March 2026 . Prior to the modification agreement, interest on outstanding principal was payable monthly and accrued at the per annum rate of the greater of (i) five percent ( 5 %) or (ii) the sum of the one-month LIBOR rate plus three and one-quarter percent ( 3.25 %). The modification agreement replaced LIBOR as the reference rate under the credit agreement with the 30-day American Interbank Offered Rate Term -30 Index published for loans in United States Dollars by the American Financial Exchange ("Ameribor"). Following the modification agreement, interest on the outstanding principal under the credit line is payable monthly and accrues at the annual rate that is the greater of: (i) the Ameribor Rate plus three and one-quarter percent (3.25%); and (ii) five percent (5.0%). The fair value of the balance on the line of credit is deemed to approximate the recorded amount because the reference rate plus 3.25% and the other terms and conditions, including the two-year term, of the Revolving Line of Credit and Term Loan Agreement are reflective of market rate terms (Level 2 inputs). If the partnership does not maintain the required compensating balance with a minimum daily average of $ 1.0 million for the calendar quarter, the interest rate automatically increases by one-quarter of one percent ( 0.25 %) above that rate which would otherwise be applicable for the next calendar quarter retroactive to the beginning of the calendar quarter in which the compensating balance is not maintained. At March 31, 2023 , the interest rate was eight and fourteen one-hundredths percent ( 8.14 %). For each calendar quarter during which the aggregate average daily outstanding principal is less than fifty percent ( 50 %) of the maximum principal of $10 million, there is a quarterly unused line fee equal to one-half of one percent ( 0.50 %) per annum of the average daily difference between the average principal outstanding and fifty percent (50%) of the maximum principal of $ 10 million. Advances on the line of credit are to be used exclusively to fund secured loans. The credit agreement provides for customary financial and borrowing base reporting by RMI VIII to the lending bank and specifies that the partnership shall maintain (i) minimum tangible net worth of $ 50 million, net of amounts due from related companies; (ii) debt service coverage ratio at all times of not less than 2.00 to 1.00 ; and (iii) loan payment delinquency of less than ten percent ( 10.0 %) at calendar quarter-end, calculated as the principal of loans with payments over 61-days past due as determined by the lending bank’s guidance, less loan loss allowances, divided by total principal of the partnership’s loans. The loan agreement provides that in the event the loan payment delinquency rate exceeds 10.0% as of the end of any quarter (10.05% at March 31, 2023), the bank will cease to make any further advances until compliant with the covenant but agrees not to accelerate repayment of the loan. At March 31, 2023 and December 31, 2022 , aggregate principal of pledged loans was approximately $ 21.1 million and $ 23.2 million, respectively, with a maximum allowed advance thereon of approximately $ 10 million, subject to the borrowing base calculation. The debt issuance costs from the original credit agreement were fully amortized in March 2022. Debt issuance costs of approximately $ 57 thousand from the modification agreement are being amortized over its two-year term. Amortized debt issuance costs included in interest expense approximated $ 7 thousand and $ 14 thousand for the three months ended March 31, 2023 and 2022 , respectively.

Commitments and Contingencies,

Commitments and Contingencies, Other than Loan and REO Commitments	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Other than Loan and REO Commitments	NOTE 8 – COMMITMENTS AND CONTINGENCIES, OTHER THAN LOAN AND REO COMMITMENTS Commitments Note 3 (General Partners and Other Related Parties) presents detailed discussion of the partnership’s contractual obligations to RMC and detail of scheduled withdrawals of limited partners’ capital at March 31, 2023. Legal proceedings As of March 31, 2023, the partnership is not involved in any legal proceedings or governmental proceedings other than those that would be considered part of the normal course of business. In the normal course of its business, the partnership may become involved in legal proceedings (such as assignment of rents, bankruptcy proceedings, appointment of receivers, unlawful detainers, judicial foreclosure, etc.) to collect the debt owed under the promissory notes, to enforce the provisions of the deeds of trust, to protect its interest in the real property subject to the deeds of trust and to resolve disputes with borrowers, lenders, lien holders and mechanics. None of these actions, in and of themselves, typically would be of any material financial impact to the partnership (i.e., exceeding ten percent of the partnership’s consolidated current assets).

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 – SUBSEQUENT EVENTS On May 19, 2023, the partnership filed a Consent Solicitation Statement pursuant to Section 14(a) of the Securities Exchange Act of 1934 with the SEC in connection with a proposed solicitation of consents from the limited partners to dissolve the partnership, liquidate its assets and wind up its affairs pursuant to a Plan of Dissolution (the “Plan”). If approved by an affirmative majority of the limited partnership interests, the partnership will not be immediately terminated, but will continue until its affairs have been wound up. The partnership will cease making new loans and will only engage in business activities necessary or convenient to wind-up the partnership’s business and distribute partnership assets in accordance with the Plan, the Partnership Agreement and applicable law. RMC will continue as the manager of the partnership until the complete liquidation of the partnership’s assets and the termination of the partnership. See “Term of the partnership” in Note 1 (Organizational and General) for detail on the Plan. The manager evaluated events subsequent to March 31, 2023 and determined that there were no other events or transactions occurring during this reporting period that require recognition or disclosure in the unaudited consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The partnership’s consolidated financial statements include the accounts of the partnership and its wholly-owned subsidiaries (consisting of single-member limited liability companies owning a single real property asset). All significant intercompany transactions and balances have been eliminated in consolidation.
Management Estimates	Management estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Such estimates involve significant level of uncertainty and have had or are reasonably likely to have a material impact on the partnership’s financial condition or results of operations. Such estimates relate principally to the determination of the allowance for credit losses (including the fair value of the underlying collateral), and the valuation of real estate owned. Actual results could differ materially from these estimates.
Fair Value Estimates	Fair value estimates The fair value of real property (as to loan collateral and REO) is determined by exercise of judgment based on RMC’s management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values, and publicly available information on in-market transactions. Appraisals of commercial real property generally present three approaches to estimating value: 1) market-comparables or sales approach; 2) cost to replace; and 3) capitalized cash flows or income approach. These approaches may or may not result in a common, single value. The market-comparables approach may yield several different values depending on certain basic assumptions, including the consideration of adjustments made for any attributes specific to the real estate. Management has the requisite familiarity with the markets it lends in generally and of the properties lent on specifically to analyze sales-comparables and assess their suitability/applicability. Management is acquainted with market participants – investors, developers, brokers, and lenders – that are useful, relevant secondary sources of data and information regarding valuation and valuation variability. These secondary sources may have familiarity with and perspectives on pending transactions, successful strategies to optimize value, and the history and details of specific properties – on and off the market – that enhance the process and analysis that is particularly and principally germane to establishing value in distressed markets and/or property types. GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. Fair values of assets and liabilities are determined based on the fair value hierarchy established in GAAP. The hierarchy is comprised of three levels of inputs to be used. • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the partnership has the ability to access at the measurement date. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. • Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly in active markets and quoted prices for identical assets or liabilities that are not active, and inputs other than quoted prices that are observable or inputs derived from or corroborated by market data. • Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs reflect the partnership’s own assumptions about the assumptions market participants would use in pricing the asset or liability (including assumptions about risk). Unobservable inputs are developed based on the best information available in the circumstances and may include the partnership’s own data.
Cash in Banks	Cash in banks Certain of the partnership’s cash balances in banks exceed federally insured limits of $ 250 thousand. The bank or banks in which funds are deposited are reviewed periodically for their general creditworthiness/investment grade credit rating. See Note 7 (Line of Credit) for compensating balance arrangements.
Loans and Interest Income	Loans and interest income Loans are carried at amortized cost, which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the amounts paid out on the borrower’s behalf and any accrued interest on amounts paid out, until repaid by the borrower. For performing loans, interest is accrued daily on the principal plus advances, if any. In the normal course of the partnership’s operations, performing loans that are maturing or have matured may be renewed at then current market rates of interest and terms for new loans. (These loan extensions are not reported as new loans for financial reporting purposes.) The partnership may fund a specific loan net of an interest reserve ( one to two years ) to insure timely interest payments at the inception of the loan. Any interest reserve is amortized over the period that the amount is prepaid. In the event of an early loan payoff, any unapplied interest reserves would be first applied to any accrued but unpaid interest and then as a reduction of principal. Loans with a payment in arrears continue to recognize interest income as long as the loan is in the process of collection with the borrower and is considered to be well-secured. Loans are placed on non-accrual status if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (i.e., a notice of sale is filed and/or when the borrower files for bankruptcy) or when the loan is no longer considered well-secured (i.e., the LTV for the loan based on the estimated net realizable value of the collateral and the total principal, advances and accrued interest (at the note rate) is at or greater than eighty percent ( 80 %), seventy-five percent ( 75 %) for lands outside of metropolitan areas). When a loan is placed on non-accrual status, the accrual of interest is discontinued – beginning with the then current month - for accounting purposes only; however, previously recorded interest is not reversed. A loan may return to accrual status when all delinquent loan payments are cured and the loan becomes current in accordance with the terms of the loan agreement. In periods prior to January 1, 2023, loans were placed on non-accrual status if 180 days delinquent or earlier if management determined that the primary source of repayment would come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan was no longer considered well-secured. Payments on loans are applied in the following order: accrued interest, advances, and lastly to principal. Late fees are recognized in the period received. Pursuant to California regulatory requirements borrower payments are deposited into a trust account established by RMC with an independent bank and are presented on the balance sheet as “Loan payments in trust”. Funds are disbursed to the partnership as collected which can range from same day for wire transfers and up to two weeks after deposit for checks. The partnership funds loans with the intent to hold the loans until maturity. From time to time, the partnership may sell certain loans when the manager determines it to be in the best interest of the partnership . Loans are classified as held-for-sale once a decision has been made to sell loans and the loans held-for-sale have been identified. Loans classified as held for sale are carried at the lower of cost or fair value.
Allowance for Loan Losses	Allowance for credit losses Loan balances (i.e., the sum of the unpaid principal, advances and accrued interest) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the net realizable value (i.e., fair value less the cost to sell) of the collateral, net of any senior liens exceeds the loan balance. For a loan that is deemed collateral dependent for repayment, a provision for credit losses is recorded to adjust the allowance for credit losses to an amount such that the net carrying amount (unpaid principal, advances plus interest accrued, i.e., interest owed net of foregone interest for loans in non-accrual status) is reduced to the lower of the loan balance or the estimated fair value of the related collateral, net of any senior debt and claims and costs to sell. As of January 1, 2023, the partnership adopted Accounting Standards Codification 326, Financial Instruments – Credit Losses using the modified retrospective approach, which requires a lifetime, current expected credit loss (CECL) measurement objective for the recognition of credit losses at the time a loan is originated or acquired. The allowance for credit losses is adjusted each period for changes in expected lifetime credit losses for loans and accrued interest. The determination of the amount of the allowance for credit losses considers historical loss experience, current fair value of collateral and the resultant LTV, current real estate and financial markets, as well as reasonable and supportable forecasts about future economic scenarios. The forward-looking estimates consider the likelihood that any combination of events would adversely impact economic conditions and real estate markets in California such that the substantial protective equity existing for the loans would no longer be sufficient to collect the recorded amounts of principal, advances and accrued interest due on the loan. The limited number of loans and the short terms for which the loans are written enable a loan-by-loan analysis to determine the risk of loss. The primary determinate in the analysis is the LTV, and consideration of lien position of deed of trust. The analysis also considers the vintage in which the secured loans originated. The ultimate collectability of the amounts owed is reliant on the estimate of the fair value of the real property collateral securing the loans. Such estimation is not variant by vintage or time on file. Such considerations are consistent with the ‘no-credit-losses’ experience of the partnership over the preceding 5+ years. The partnership charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. Any amounts collected after a charge off is deemed a recovery. If the loan goes to foreclosure, an updated appraisal is ordered and the recorded investment in the loan is adjusted to the net realizable value of the real estate to be acquired. Prior to the adoption of the CECL accounting model, if a loan modification was agreed to and was to result in an economic concession to the borrower (i.e., a significant delay or reduction in cash flows compared to the original note), the modification would have been deemed to be a troubled debt restructuring (“TDR”). The Company did not have any TDRs for the year ended December 31, 2022 .
Real Estate Owned (REO)	Real estate owned (REO) Real estate owned (“REO”) is property acquired in full or partial settlement of loan obligations generally through foreclosure and is recorded at acquisition at the property’s fair value less estimated costs to sell. The fair value estimates are derived from information available in the real estate markets including similar property, and often require the experience and judgment of third parties such as commercial real estate appraisers and brokers. The estimates figure materially in calculating the value of the property at acquisition, the level of charge to the allowance for credit losses and any subsequent valuation reserves. After acquisition, costs incurred relating to the development and improvement of property are capitalized to the extent they do not cause the recorded value to exceed the net realizable value, whereas costs relating to holding and disposition of the property are expensed as incurred. REO is analyzed periodically for changes in fair values and any subsequent write down is charged to REO, net on the statements of income. Any recovery in the fair value subsequent to such a write down is recorded, not to exceed the value recorded at acquisition. Recognition of gains on the sale of real estate is dependent upon the transaction meeting certain criteria related to the nature of the property and the terms of the sale including potential seller financing.
Accrued liabilities	Accrued liabilities Accrued liabilities at March 31, 2023 and December 31, 2022 were approximately $ 1.2 million and $ 1.1 million, respectively, the significant components of which are accrued professional and consulting fees (approximately $ 1 million and $ 993 thousand, respectively), accrued REO property taxes and mortgage interest expense (approximately $ 51 thousand and $ 13 thousand, respectively) and accrued interest on the line of credit (approximately $ 68 thousand and $ 61 thousand, respectively).
Debt Issuance Costs	Debt issuance costs Debt issuance costs are the fees and commissions incurred in the course of obtaining a line of credit for services from banks, law firms and other professionals and are amortized on a straight-line basis, which approximates the interest method, as interest expense over the term of the line of credit.
Reclassifications	Reclassification A reclassification has been made in the prior year statement of cash flows to reclassify the presentation of formation loan collected from changes in partners' capital to a separate line item within the financing section of the statement of cash flows. There was no change in total cash used in financing activities.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements None at March 31, 2023 are applicable to the partnership.

General Partners and Other Re_2

General Partners and Other Related Parties (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Schedule of Formation Loan Activity	The formation loan transactions for the three months ended March 31 are presented in the following table ($ in thousands). 2023 2022 Balance, January 1 $ 2,702 $ 3,361 Payments received from RMC — ( 125 ) Balance, March 31 $ 2,702 $ 3,236
Schedule of Withdrawals of Limited Partner Capital	Withdrawals of limited partners’ capital for the three months ended March 31 are presented in the following table ($ in thousands). Withdrawals 2023 2022 Without penalty $ 2,170 $ 2,890 With penalty 381 355 Total $ 2,551 $ 3,245 Scheduled, at March 31, $ 12,485 $ 20,487 Percentage of scheduled withdrawals in end of period capital 22.7 % 30.9 %
Scheduled Withdrawals of Limited Partner Capital Account	Scheduled withdrawals of limited partners’ capital in periods as of and after March 31, 2023 are presented in the following table ($ in thousands). 2023 $ 5,189 2024 4,083 2025 1,934 2026 952 2027 299 Thereafter 28 Total $ 12,485

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2023
Secured Loan Principal Transactions	Secured loan transactions for the three months ended March 31 are summarized in the following table ($ in thousands). 2023 Total First Trust Deeds Second Trust Deeds Principal, beginning of period $ 60,088 $ 55,803 $ 4,285 Loans funded 5,700 4,200 1,500 Principal collected ( 3,853 ) ( 2,749 ) ( 1,104 ) Loans transferred to related mortgage fund ( 3,956 ) ( 2,024 ) ( 1,932 ) Principal, end of period $ 57,979 $ 55,230 $ 2,749
Secured Loans Characteristics	Secured loans had the characteristics presented in the following table ($ in thousands). March 31, December 31, 2023 2022 Number of secured loans 16 21 First trust deeds 14 18 Second trust deeds 2 3 Secured loans – principal $ 57,979 $ 60,088 First trust deeds $ 55,230 $ 55,803 Second trust deeds $ 2,749 $ 4,285 Secured loans – lowest interest rate (fixed) 7.3 % 7.3 % Secured loans – highest interest rate (fixed) 12.0 % 10.8 % Average secured loan – principal $ 3,624 $ 2,861 Average principal as percent of total principal 6.2 % 4.8 % Average principal as percent of partners’ capital, net of formation loan 7.0 % 5.3 % Average principal as percent of total assets 5.4 % 4.3 % Largest secured loan – principal $ 9,000 $ 9,000 Largest principal as percent of total principal 15.5 % 15.0 % Largest principal as percent of partners’ capital, net of formation loan 17.4 % 16.6 % Largest principal as percent of total assets 13.4 % 13.4 % Smallest secured loan – principal $ 637 $ 437 Smallest principal as percent of total principal 1.1 % 0.7 % Smallest principal as percent of partners’ capital, net of formation loan 1.2 % 0.8 % Smallest principal as percent of total assets 0.9 % 0.7 % Number of California counties where security is located 8 10 Largest percentage of principal in one California county 30.4 % 30.7 % As of March 31, 2023, 11 loans with principal of approximately $ 43.3 million provide for monthly payments of interest only, with the principal due at maturity, and 5 loans with principal of approximately $ 14.6 million (representing approximately 25 % of the aggregate principal of the partnership’s loan portfolio) provide for monthly payments of principal and interest, typically calculated on a 30 -year amortization, with the remaining principal due at maturity. As of March 31, 2023, there were two loans in second lien position. The aggregate principal of these loans is approximately $ 2.8 million and the weighted average LTV at loan closing is 50.5 % . Both loans were performing as of March 31, 2023 .
Secured Loans Distributed within California	The distribution of secured loans within California by counties is presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Principal Percent Principal Percent San Francisco Bay Area (2) San Francisco $ 17,645 30.4 % $ 18,425 30.7 % San Mateo — 0.0 2,519 4.2 Santa Clara 12,249 21.1 12,266 20.4 Solano 3,550 6.1 3,550 5.9 Marin 1,500 2.6 1,099 1.8 Alameda 1,249 2.2 1,687 2.8 36,193 62.4 39,546 65.8 Stanislaus 1,301 2.2 1,301 2.2 Northern California Total 37,494 64.6 40,847 68.0 Southern California Coastal Los Angeles 4,685 8.1 5,597 9.3 Orange 15,800 27.3 11,600 19.3 Santa Barbara — 0.0 2,044 3.4 Southern California Total 20,485 35.4 19,241 32.0 Total principal, secured loans $ 57,979 100.0 % $ 60,088 100.0 % (2) Includes the Silicon Valley
Secured Loans by Property Type	Secured loans summarized by property type are presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Loans Principal Percent Loans Principal Percent Single family (1) 2 $ 3,354 6 % 4 $ 5,874 10 % Multi-family 2 7,550 13 3 8,326 14 Commercial 10 45,774 79 12 44,587 74 Land 2 1,301 2 2 1,301 2 Total principal, secured loans 16 $ 57,979 100 % 21 $ 60,088 100 % (1) Single family includes 1-4 unit residential buildings, condominium units, townhouses and condominium complexes. At March 31, 2023, single family consists of 2 loans with aggregate principal of approximately $ 3.4 million that are non-owner occupied. At December 31, 2022 , single family consisted of 4 loans with aggregate principal of approximately $ 5.9 million that were non-owner occupied.
Secured Loans by Lien Position in the Collateral	At funding, secured loans had the lien positions presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Loans Principal Percent Loans Principal Percent First trust deeds 14 $ 55,230 95 % 18 $ 55,803 93 % Second trust deeds 2 2,749 5 3 4,285 7 Total principal, secured loans 16 57,979 100 % 21 60,088 100 % Liens due other lenders at loan closing 9,681 8,956 Total debt $ 67,660 $ 69,044 Appraised property value at loan closing $ 137,894 $ 138,924 LTV (weighted average) at loan closing 54.5 % 55.4 %
Secured Loans By LTV And Line Positions	The LTVs shown in this table use the appraisals at origination of the loans. Secured loans with payments in arrears, principal LTV (5) First trust Percent (6) Second trust Percent (6) Total Percent (6) <40% $ — 0.0 % $ — 0.0 % $ — 0.0 % 40-49% — 0.0 — 0.0 — 0.0 50-59% 3,565 6.1 — 0.0 3,565 6.1 60-69% 11,710 20.2 — 0.0 11,710 20.2 Subtotal <70% 15,275 26.3 — 0.0 15,275 26.3 70-79% 2,105 3.6 — 0.0 2,105 3.6 Subtotal <80% 17,380 29.9 — 0.0 17,380 29.9 ≥80% — 0.0 — 0.0 — 0.0 Total $ 17,380 29.9 % $ — 0.0 % $ 17,380 29.9 % (5) LTV classifications in the table above are based on principal, advances and interest unpaid at March 31, 2023 . (6) Percent of total principal, secured loans ($ 57.9 million) at March 31, 2023 .
Secured Loans Scheduled Maturities	Secured loans scheduled to mature in periods as of and after March 31, 2023 are presented in the following table ($ in thousands). First Trust Deeds Second Trust Deeds Loans Principal Percent Loans Principal Loans Principal 2023 (scheduled to mature after March 31) 6 $ 23,062 40 % 6 $ 23,062 — $ — 2024 4 7,614 13 3 6,114 1 1,500 2025 1 9,000 16 1 9,000 — — 2026 1 1,249 2 — — 1 1,249 2027 2 12,369 21 2 12,369 — — Total scheduled maturities 14 53,294 92 12 50,545 2 2,749 Matured (3) 2 4,685 8 2 4,685 — — Total principal, secured loans 16 $ 57,979 100 % 14 $ 55,230 2 2,749 (3) See Delinquency/Secured loans with payments in arrears below for additional information on matured loans.
Past Due Financing Receivables	Payments in arrears for secured loans ( 5 loans) at March 31, 2023 are presented in the following tables ($ in thousands). Loans Principal Interest (4) At March 31, 2023 Past Monthly Past Monthly Past Monthly Total Past due 30-89 days (1-3 payments) 1 2 $ 965 $ — $ — $ 73 $ 1,038 90-179 days (4-6 payments) — 1 — 2 — 55 57 180 or more days (more than 6 1 — 3,720 — 533 — 4,253 Total past due 2 3 $ 4,685 $ 2 $ 533 $ 128 $ 5,348 (4) Interest for March 2023 is due on April 1 , 2023 and is not included in the amounts of payments in arrears at March 31, 2023 .
Secured Loans in Non-Accrual Status	Secured loans in non-accrual status are summarized in the following table ($ in thousands). March 31, 2023 December 31, 2022 Number of loans — 1 Principal $ 3,720 Advances 60 Accrued interest (7) 233 Total recorded investment $ 4,013 Foregone interest $ 233 (7) Accrued interest in the table above is the amount of interest accrued prior to the loan being placed on non-accrual status, net of any payments subsequently.
Activity in the Allowance for Loan Losses	Activity in the allowance for credit losses for the three months ended March 31 is presented in the following table ($ in thousands). 2023 2022 Principal and Advances Interest Total Principal and Advances Interest Total Balance, December 31 $ 30 $ 25 $ 55 $ 30 $ 25 $ 55 Adoption of ASC 326 (CECL) 30 35 65 — — — Balance, January 1 60 60 120 30 25 55 Provision (recovery) for credit losses — — — — — — Charge-offs — — — — — — Balance, March 31 $ 60 $ 60 $ 120 $ 30 $ 25 $ 55
Non - Performing Secured Loan, Principal By LTV And Lien Position	Secured loans, principal LTV (10) First trust Percent Count Second trust Percent Count Total Percent <40% $ 13,019 22.5 % 2 1,500 2.6 % 1 $ 14,519 25.1 % 40-49% 664 1.1 1 — 0.0 — 664 1.1 50-59% 7,115 12.3 3 — 0.0 — 7,115 12.3 60-69% 22,597 39.0 5 1,249 2.1 1 23,846 41.1 Subtotal <70% 43,395 74.9 11 2,749 4.7 2 46,144 79.6 70-79% 11,835 20.4 3 — 0.0 — 11,835 20.4 Subtotal <80% 55,230 95.3 14 2,749 4.7 2 57,979 100.0 ≥80% — 0.0 — — 0.0 — — 0.0 Total $ 55,230 95.3 % 14 $ 2,749 4.7 % 2 $ 57,979 100.0 % (10) LTV classifications in the table above are based on principal, advances and interest unpaid at March 31, 2023 .
Schedule of Weighted Average of Loans	The analysis included projecting the outstanding principal for loans – individually and in total, by lien position – until maturity to determine the count, amount and weighted average LTV of the loans for future quarter and year ends. First Trust Deeds Second Trust Deeds Loans Principal LTV (9) Loans Principal LTV (9) Loans Principal LTV (9) 2023 (8) 8 $ 30,232 36.7 % 6 $ 27,483 36.4 % 2 $ 2,749 40.2 % 2024 4 22,619 47.0 3 21,369 46.0 1 1,250 63.6 2025 3 13,619 37.8 2 12,369 35.2 1 1,250 63.6 2026 2 12,369 35.2 2 12,369 35.2 — — 0.0 2027 — — 0.0 — — 0.0 — — 0.0 (8) For purposes of this analysis, loans past maturity as of March 31, 2023 , and loans subsequently maturing are expected to be paid by the calendar year end. (9) The LTVs shown in this table are updated for any appraisals ordered and received by the manager after origination of the loan.
By Days Past Due [Member]
Past Due Financing Receivables	Secured loans principal summarized by payment-delinquency status are presented in the following table ($ in thousands). March 31, 2023 December 31, 2022 Loans Principal Loans Principal Current 11 $ 40,599 18 $ 54,359 Past Due 30-89 days 3 11,555 — — 90-179 days 1 2,105 2 2,009 180 or more days 1 3,720 1 3,720 Total past due 5 17,380 3 5,729 Total principal, secured loans 16 $ 57,979 21 $ 60,088 At March 31, 2023 and December 31, 2022 , there were no loan forbearance agreements in effect. All five loans past due at March 31, 2023 were in first lien position and had principal payments in arrears of approximately $ 4.7 million.

Line of Credit (Tables)

Line of Credit (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Activity Involving Line of Credit	Activity involving the line of credit for the three months ended March 31 is presented in the following table ($ in thousands). 2023 2022 Balance, January 1 $ 10,000 $ — Draws — 10,800 Repayments — ( 1,000 ) Balance, March 31, $ 10,000 $ 9,800 Line of credit - average daily balance $ 10,000 $ 3,758

Organization and General - Addi

Organization and General - Additional Information (Details) - Installment	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organizational and General Details [Line Items]
Percentage of profit or loss entitled to general partners	1%
Percentage of limited partners electing distribution of allocated net income by weighted average to total partners capital	54%	57%
Minimum amount of time before leaving partnership without penalty	5 years
Number of quarterly installments for withdrawal from partnership	20
Early withdrawal penalty percentage	10%
Maximum percentage of total limited partners capital available for liquidation during one year	20%
Limited Partner [Member]
Organizational and General Details [Line Items]
Number of quarterly installments for withdrawal from partnership	4
Limited Partner [Member] | After Five Year Period [Member]
Organizational and General Details [Line Items]
Number of quarterly installments for withdrawal from partnership	20
Benefit Plan Investors [Member] | After Five Year Period [Member] | Internal Revenue Code [Member]
Organizational and General Details [Line Items]
Number of quarterly installments for withdrawal from partnership	4

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) Approach	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Summary of Significant Accounting Policies Details [Line Items]
Estimating real property value, number of approaches | Approach	3
Interest expense	$ 215	$ 75
Interest reserve minimum length	1 year
Interest reserve maximum length	2 years
Percentages of principal, advances and accrued interest rate	75%
Accrued liabilities	$ 1,200		$ 1,100
Accrued professional and consulting fees	1,000		993
Accrued property taxes and mortgage interest expense	51		13
Accrued interest on the line of credit	68		$ 61
Maximum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Federal insurance limit	$ 250
Percentages of principal, advances and accrued interest rate	80%

General Partners and Other Re_3

General Partners and Other Related Parties - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) Loan	Mar. 31, 2022 USD ($) Loan	Dec. 31, 2022 USD ($)
General Partners And Other Related Parties Details [Line Items]
Management fee, description	The general partners are entitled to monthly fees for managing the business and affairs of RMI VIII, including management of the partnership’s loan portfolio and operations, of up to 1/32 of 1% of the “net asset value” of the partnership (3/8 of 1% annually).
Loan brokerage commissions, maximum percent of assets	4%
Payable to related party (Note 3)	$ 65		$ 154
Amount due from manager and related mortgage funds, net	20		68
Schedule withdrawals of Limited partners capital	55,090		57,616
RMC and Burwell [Member]
General Partners And Other Related Parties Details [Line Items]
Payable to related party (Note 3)	2,700		$ 154
Accounts Payable Related Parties	65
Quarterly Withdrawls	2,500
Partners' Capital Account, Distributions	118
Aggregate principal of loans transferred to related fund.	$ 4,000
Number of performing loans transferred from related mortgage fund | Loan	0	0
RMC [Member]
General Partners And Other Related Parties Details [Line Items]
Annual scheduled payment of formation loan	$ 650
Related mortage funds Member
General Partners And Other Related Parties Details [Line Items]
Number of performing loans transferred to related mortgage fund | Loan	5
Partnership Agreement [Member] | Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Schedule withdrawals of Limited partners capital	$ 131
Formation Loan [Member]
General Partners And Other Related Parties Details [Line Items]
Formation loan, advances	22,600
Receivable from affiliate (formation loan)	2,700
RMC [Member]
General Partners And Other Related Parties Details [Line Items]
Brokerage commissions paid to RMC	$ 150	$ 214
Maximum [Member]
General Partners And Other Related Parties Details [Line Items]
Annual mortgage servicing fee, percentage	1.50%
Percentage of offering proceeds	7%

General Partners and Other Re_4

General Partners and Other Related Parties - Formation Loan Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Formation Loan - Transactions [Abstract]
Begning balance	$ 2,702	$ 3,361
Payments received from RMC	0	(125)
Ending balance	$ 2,702	$ 3,236

General Partners and Other Re_5

General Partners and Other Related Parties - Schedule of Withdrawals of Limited Partner Capital (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
General Partners And Other Related Parties Details [Line Items]
Scheduled, at March 31,	$ 12,485
Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Scheduled, at March 31,	$ 12,485	$ 20,487
Percentage of scheduled withdrawals in end of period capital	22.70%	30.90%
Limited Partner [Member] | Capital Withdrawals-without Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital withdrawals	$ 2,170	$ 2,890
Limited Partner [Member] | Capital Withdrawals-subject to Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital withdrawals	381	355
Limited Partner [Member] | Capital Subject to Withdrawals Net [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital withdrawals	$ 2,551	$ 3,245

General Partners and Other Re_6

General Partners and Other Related Parties - Scheduled Capital Account Withdrawal Requests (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Partners Capital Account Withdrawals [Abstract]
2023	$ 5,189
2024	4,083
2025	1,934
2026	952
2027	299
Thereafter	28
Total	$ 12,485

Loans - Additional Information

Loans - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) Loan Agreements	Dec. 31, 2022 USD ($) Agreements Loan
Loans Details [Line Items]
Loans receivable number of loans | Loan	16	21
Loans receivable, percent of aggregate principal	25%
Principal	$ 57,979	$ 60,088
Loans receivable, amortization term	30 years
Loans receivable largest loan (in Dollars)	$ 9,000	9,000
Aggregate principal amount of loans sold to unaffiliated third party	$ 1,300
Non-performing number of loans	5
Mortgage loans on real estate number of loans renewed | Loan	1
Mortgage loans on real estate extension period	1 year
Accrued interest on non-accrual loans	$ 1,004	570
Total Principal Secured Loans	57,900
Allowance for credit losses	$ (120)	$ (55)
First Lien Position [Member]
Loans Details [Line Items]
Loans receivable, percent of aggregate principal	95%	93%
Weighted average LTV, at origination	54.20%
Principal payments in arrears	$ 4,700
Second Lien Position [Member]
Loans Details [Line Items]
Weighted average LTV, at origination	50.50%
Forbearance Agreement [Member]
Loans Details [Line Items]
Loan forbearance agreements | Agreements	0	0
CECL model (currently expected credit losses)
Loans Details [Line Items]
Loan Principal	$ 58,000
Credit Losses For Secured Loans		$ 65
CECL model (currently expected credit losses) | Cumulative Effect Adjustment [Member]
Loans Details [Line Items]
Accrued interest on non-accrual loans		233
Partnership [Member]
Loans Details [Line Items]
Loans receivable number of loans | Loan	5
Principal	$ 14,600
Past Due 180 Days or More [Member]
Loans Details [Line Items]
Principal	3,720	3,720
Current [Member]
Loans Details [Line Items]
Principal	$ 40,599	$ 54,359
Maximum [Member] | First Lien Position [Member]
Loans Details [Line Items]
Loans receivable, percent of aggregate principal	10%
Loans receivable largest loan (in Dollars)	$ 32,100
Maximum [Member] | Second Lien Position [Member]
Loans Details [Line Items]
Loans receivable largest loan (in Dollars)	2,800
Maximum [Member] | CECL model (currently expected credit losses)
Loans Details [Line Items]
Loan Principal	32,100
Interest Only [Member]
Loans Details [Line Items]
Principal	$ 43,300
Loans receivable, number of interest only loans | Loan	11
Largest Loan [Member]
Loans Details [Line Items]
Loans receivable largest loan (in Dollars)	$ 9,000
Loans receivable, yield of loan acquired	7.99%
Loans receivable maturity date	Sep. 01, 2025
Weighted average LTV, at origination	61%
Second Loan [Member]
Loans Details [Line Items]
Loans receivable largest loan (in Dollars)	$ 8,800
Loans receivable, yield of loan acquired	8.375%
Loans receivable maturity date	Jul. 01, 2027
Weighted average LTV, at origination	26%
Third Loan [Member]
Loans Details [Line Items]
Loans receivable largest loan (in Dollars)	$ 8,000
Loans receivable, yield of loan acquired	8.375%
Loans receivable maturity date	Apr. 01, 2023
Weighted average LTV, at origination	62%
Fourth Loan [Member]
Loans Details [Line Items]
Loans receivable largest loan (in Dollars)	$ 6,300
Loans receivable, yield of loan acquired	7.75%
Loans receivable maturity date	Apr. 01, 2023
Weighted average LTV, at origination	75%
Construction Loans [Member]
Loans Details [Line Items]
Commitment to lend outstanding	$ 0
Rehabilitation Loans [Member]
Loans Details [Line Items]
Loans outstanding	$ 0

Loans - Secured Loan Principal

Loans - Secured Loan Principal Transactions (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal, beginning of period	$ 60,088
Loans funded	5,700
Principal collected	(3,853)
Loans transferred to related mortgage fund	(3,956)
Principal, ending of period	57,979
First Trust Deeds [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal, beginning of period	55,803
Loans funded	4,200
Principal collected	(2,749)
Loans transferred to related mortgage fund	(2,024)
Principal, ending of period	55,230
Second Trust Deeds [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal, beginning of period	4,285
Loans funded	1,500
Principal collected	(1,104)
Loans transferred to related mortgage fund	(1,932)
Principal, ending of period	$ 2,749

Loans - Secured Loans Character

Loans - Secured Loans Characteristics (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) Loan County	Dec. 31, 2022 USD ($) Loan County
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	16	21
Principal	$ 57,979	$ 60,088
Average secured loan - principal (in Dollars)	$ 3,624	$ 2,861
Average principal as percent of total principal	6.20%	4.80%
Average principal as percent of partners’ capital, net of formation loan	7%	5.30%
Average principal as percent of total assets	5.40%	4.30%
Largest secured loan - principal (in Dollars)	$ 9,000	$ 9,000
Largest principal as percent of total principal	15.50%	15%
Largest principal as percent of partners’ capital, net of formation loan	17.40%	16.60%
Largest principal as percent of total assets	13.40%	13.40%
Smallest secured loan - principal (in Dollars)	$ 637	$ 437
Smallest principal as percent of total principal	1.10%	0.70%
Smallest principal as percent of partners’ capital, net of formation loan	1.20%	0.80%
Smallest principal as percent of total assets	0.90%	0.70%
Number of California counties where security is located | County	8	10
Largest percentage of principal in one California county	30.40%	30.70%
First Trust Deeds [Member]
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	14	18
Principal	$ 55,230	$ 55,803
Second Trust Deeds [Member]
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	2	3
Principal	$ 2,749	$ 4,285
Minimum [Member]
Secured Loan Transactions [Line Items]
Secured loans - interest rate (fixed)	7.30%	7.30%
Maximum [Member]
Secured Loan Transactions [Line Items]
Secured loans - interest rate (fixed)	12%	10.80%

Loans - Secured Loans Distribut

Loans - Secured Loans Distributed within California (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 57,979	$ 60,088
Loans - percent		100%	100%
San Francisco [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 17,645	$ 18,425
Loans - percent	[1]	30.40%	30.70%
San Mateo [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 0	$ 2,519
Loans - percent	[1]	0%	4.20%
Santa Clara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 12,249	$ 12,266
Loans - percent	[1]	21.10%	20.40%
Solano [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 3,550	$ 3,550
Loans - percent	[1]	6.10%	5.90%
Marin [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 1,500	$ 1,099
Loans - percent	[1]	2.60%	1.80%
Alameda [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 1,249	$ 1,687
Loans - percent	[1]	2.20%	2.80%
San Francisco Bay Area [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 36,193	$ 39,546
Loans - percent	[1]	62.40%	65.80%
Stanislaus [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 1,301	$ 1,301
Loans - percent		2.20%	2.20%
Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 37,494	$ 40,847
Loans - percent		64.60%	68%
Los Angeles [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 4,685	$ 5,597
Loans - percent		8.10%	9.30%
Orange [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 15,800	$ 11,600
Loans - percent		27.30%	19.30%
Santa Barbara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 0	$ 2,044
Loans - percent		0%	3.40%
Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 20,485	$ 19,241
Loans - percent		35.40%	32%
[1] Includes the Silicon Valley

Loans - Secured Loans by Proper

Loans - Secured Loans by Property Type (Details) $ in Thousands		Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | Loan		16	21
Secured loans, principal | $		$ 57,979	$ 60,088
Loans - percent		100%	100%
Single Family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | Loan	[1]	2	4
Secured loans, principal | $	[1]	$ 3,354	$ 5,874
Loans - percent	[1]	6%	10%
Multi-family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | Loan		2	3
Secured loans, principal | $		$ 7,550	$ 8,326
Loans - percent		13%	14%
Commercial [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | Loan		10	12
Secured loans, principal | $		$ 45,774	$ 44,587
Loans - percent		79%	74%
Land [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | Loan		2	2
Secured loans, principal | $		$ 1,301	$ 1,301
Loans - percent		2%	2%
[1] Single family includes 1-4 unit residential buildings, condominium units, townhouses and condominium complexes. At March 31, 2023, single family consists of 2 loans with aggregate principal of approximately $ 3.4 million that are non-owner occupied. At December 31, 2022 , single family consisted of 4 loans with aggregate principal of approximately $ 5.9 million that were non-owner occupied.

Loans - Secured Loans by Prop_2

Loans - Secured Loans by Property Type (Parenthetical) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Loans Details [Line Items]
Secured loans, principal	$ 57,979	$ 60,088
Single Family Property-NonOwner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | Loan	2	4
Secured loans, principal	$ 3,400	$ 5,900

Loans - Secured Loans by Lien P

Loans - Secured Loans by Lien Position in the Collateral (Details) $ in Thousands	Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Number of secured loans | Loan	16	21
Secured loans, principal	$ 57,979	$ 60,088
Loans - percent	100%	100%
Liens due other lenders at loan closing (in Dollars)	$ 9,681	$ 8,956
Total debt (in Dollars)	67,660	69,044
Appraised property value at loan closing (in Dollars)	$ 137,894	$ 138,924
Percent of total debt to appraised values (LTV) at loan closing	54.50%	55.40%
First Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Number of secured loans | Loan	14	18
Secured loans, principal	$ 55,230	$ 55,803
Loans - percent	95%	93%
Second Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Number of secured loans | Loan	2	3
Secured loans, principal	$ 2,749	$ 4,285
Loans - percent	5%	7%

Loans - Secured Loans By LTV An

Loans - Secured Loans By LTV And Line Positions (Details) - Secured Loans with Payments in Arrears, Principal [Member] $ in Thousands	Mar. 31, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 17,380
First trust deeds, percent	29.90%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 17,380
Total principal, percent	29.90%	[1]
Less Than 40% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 0
First trust deeds, percent	0%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 0
Total principal, percent	0%	[1]
40-49% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 0
First trust deeds, percent	0%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 0
Total principal, percent	0%	[1]
50-59% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 3,565
First trust deeds, percent	6.10%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 3,565
Total principal, percent	6.10%	[1]
60-69% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 11,710
First trust deeds, percent	20.20%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 11,710
Total principal, percent	20.20%	[1]
Subtotal Less Than 70% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 15,275
First trust deeds, percent	26.30%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 15,275
Total principal, percent	26.30%	[1]
70-79% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 2,105
First trust deeds, percent	3.60%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 2,105
Total principal, percent	3.60%	[1]
Subtotal Less Than 80% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 17,380
First trust deeds, percent	29.90%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 17,380
Total principal, percent	29.90%	[1]
Equal 80% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 0
First trust deeds, percent	0%	[1]
Second trust deeds	$ 0
Second trust deeds, percent	0%	[1]
Total principal	$ 0
Total principal, percent	0%	[1]
[1] Percent of total principal, secured loans ($ 57.9 million) at March 31, 2023 .

Loans - Secured Loans Scheduled

Loans - Secured Loans Scheduled Maturities (Details) $ in Thousands		Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Financing Receivable, Credit Quality Indicator [Line Items]
2023, Loans | Loan		6
2024, Loan | Loan		4
2025, Loan | Loan		1
2026, Loan | Loan		1
2027, Loan | Loan		2
Total scheduled maturities, Loan | Loan		14
Matured at March 31, 2023, Loan | Loan	[1]	2
Total principal, secured loans, Loan | Loan		16	21
2023, Principal | $		$ 23,062
2024, Principal | $		7,614
2025, Principal | $		9,000
2026, Principal | $		1,249
2027, Principal | $		12,369
Total scheduled maturities, Principal | $		53,294
Matured at March 31, 2023, Principal | $	[1]	4,685
Total principal, secured loans, Principal | $		$ 57,979	$ 60,088
2023, Percent		40%
2024, Percent		13%
2025, Percent		16%
2026, Percent		2%
2027, Percent		21%
Total scheduled maturities, Percent		92%
Matured at March 31, 2023, Percent	[1]	8%
Total principal, secured loans, Percent		100%
First Trust Deeds [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023, Loans | Loan		6
2024, Loan | Loan		3
2025, Loan | Loan		1
2027, Loan | Loan		2
Total scheduled maturities, Loan | Loan		12
Matured at March 31, 2023, Loan | Loan	[1]	2
Total principal, secured loans, Loan | Loan		14	18
2023, Principal | $		$ 23,062
2024, Principal | $		6,114
2025, Principal | $		9,000
2027, Principal | $		12,369
Total scheduled maturities, Principal | $		50,545
Matured at March 31, 2023, Principal | $	[1]	4,685
Total principal, secured loans, Principal | $		$ 55,230	$ 55,803
Second Trust Deeds [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023, Loans | Loan		0
2024, Loan | Loan		1
2026, Loan | Loan		1
Total scheduled maturities, Loan | Loan		2
Total principal, secured loans, Loan | Loan		2	3
2023, Principal | $		$ 0
2024, Principal | $		1,500
2026, Principal | $		1,249
Total scheduled maturities, Principal | $		2,749
Total principal, secured loans, Principal | $		$ 2,749	$ 4,285
[1] See Delinquency/Secured loans with payments in arrears below for additional information on matured loans.

Loans - Secured Loans Summarize

Loans - Secured Loans Summarized by Payment Delinquency (Details) $ in Thousands	Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | Loan	16	21
Principal | $	$ 57,979	$ 60,088
Current [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | Loan	11	18
Principal | $	$ 40,599	$ 54,359
Past Due 30-89 Days [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | Loan	3	0
Principal | $	$ 11,555	$ 0
Past Due 90-179 Days [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | Loan	1	2
Principal | $	$ 2,105	$ 2,009
Past Due 180 Days or More [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | Loan	1	1
Principal | $	$ 3,720	$ 3,720
Past Due [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | Loan	5	3
Principal | $	$ 17,380	$ 5,729

Loans - Schedule of Payments in

Loans - Schedule of Payments in Arrears Past Due Financing Receivables (Details) $ in Thousands	Mar. 31, 2023 USD ($) Loan
30-89 days (1-3 payments)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan	1
Number of monthly payments | Loan	2
Past maturity, principal	$ 965
Monthly payments, principal	0
Past maturity, interest	0	[1]
Monthly payments, interest	73	[1]
Total payments	$ 1,038
90-179 days (4-6 payments)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan	0
Number of monthly payments | Loan	1
Past maturity, principal	$ 0
Monthly payments, principal	2
Past maturity, interest	0	[1]
Monthly payments, interest	55	[1]
Total payments	$ 57
180 or more days (more than 6 payments)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan	1
Number of monthly payments | Loan	0
Past maturity, principal	$ 3,720
Monthly payments, principal	0
Past maturity, interest	533	[1]
Monthly payments, interest	0	[1]
Total payments	$ 4,253
Total Payments Past Due
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan	2
Number of monthly payments | Loan	3
Past maturity, principal	$ 4,685
Monthly payments, principal	2
Past maturity, interest	533	[1]
Monthly payments, interest	128	[1]
Total payments	$ 5,348
[1] Interest for March 2023 is due on April 1 , 2023 and is not included in the amounts of payments in arrears at March 31, 2023 .

Loans - Schedule of Payments _2

Loans - Schedule of Payments in Arrears Past Due Financing Receivables (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2023
180 or more days (more than 6 payments)
Financing Receivable Recorded Investment Past Due [Line Items]
Interest, Due Date	Apr. 01, 2023

Loans - Secured Loans in Non-Ac

Loans - Secured Loans in Non-Accrual Status (Details) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2023 USD ($) MortgageLoan	Dec. 31, 2022 USD ($) MortgageLoan
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		$ 57,979	$ 60,088
Accrued interest		$ 1,004	570
Non-accrual Status [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Accrued interest	[1]		233
Mortgage Loans on Real Estate, Commercial, Consumer And Recorded Investment Net			4,013
Foregone interest			$ 233
Non-accrual Status [Member] | Principal [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan		0	1
Mortgage Loans on Real Estate, Commercial and Consumer, Net			$ 3,720
Non-accrual Status [Member] | Advances [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net			$ 60
[1] Accrued interest in the table above is the amount of interest accrued prior to the loan being placed on non-accrual status, net of any payments subsequently.

Loans - Schedule of Weighted Av

Loans - Schedule of Weighted Average of Loans (Details) $ in Thousands		Mar. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Financing Receivable, Credit Quality Indicator [Line Items]
2024, Loan | Loan		4
2025, Loan | Loan		1
2026, Loan | Loan		1
2027, Loan | Loan		2
Total principal, secured loans, Loan | Loan		16	21
2024, Principal | $		$ 7,614
2025, Principal | $		9,000
2026, Principal | $		1,249
2027, Principal | $		12,369
Total principal, secured loans, Principal | $		$ 57,979	$ 60,088
2024, Percent		13%
2025, Percent		16%
2026, Percent		2%
2027, Percent		21%
Total principal, secured loans, Percent		100%
Secured Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023, Loan | Loan	[1]	8
2024, Loan | Loan		4
2025, Loan | Loan		3
2026, Loan | Loan		2
2023, Principal | $	[1]	$ 30,232
2024, Principal | $		22,619
2025, Principal | $		13,619
2026, Principal | $		$ 12,369
2023, Percent	[1],[2]	36.70%
2024, Percent	[2]	47%
2025, Percent	[2]	37.80%
2026, Percent	[2]	35.20%
2027, Percent	[2]	0%
First Trust Deeds [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024, Loan | Loan		3
2025, Loan | Loan		1
2027, Loan | Loan		2
Total principal, secured loans, Loan | Loan		14	18
2024, Principal | $		$ 6,114
2025, Principal | $		9,000
2027, Principal | $		12,369
Total principal, secured loans, Principal | $		$ 55,230	$ 55,803
First Trust Deeds [Member] | Secured Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023, Loan | Loan	[1]	6
2024, Loan | Loan		3
2025, Loan | Loan		2
2026, Loan | Loan		2
2023, Principal | $	[1]	$ 27,483
2024, Principal | $		21,369
2025, Principal | $		12,369
2026, Principal | $		$ 12,369
2023, Percent	[1],[2]	36.40%
2024, Percent	[2]	46%
2025, Percent	[2]	35.20%
2026, Percent	[2]	35.20%
2027, Percent	[2]	0%
Second Trust Deeds [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024, Loan | Loan		1
2026, Loan | Loan		1
Total principal, secured loans, Loan | Loan		2	3
2024, Principal | $		$ 1,500
2026, Principal | $		1,249
Total principal, secured loans, Principal | $		$ 2,749	$ 4,285
Second Trust Deeds [Member] | Secured Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023, Loan | Loan	[1]	2
2024, Loan | Loan		1
2025, Loan | Loan		1
2023, Principal | $	[1]	$ 2,749
2024, Principal | $		1,250
2025, Principal | $		$ 1,250
2023, Percent	[1],[2]	40.20%
2024, Percent	[2]	63.60%
2025, Percent	[2]	63.60%
2026, Percent	[2]	0%
2027, Percent	[2]	0%
[1] For purposes of this analysis, loans past maturity as of March 31, 2023 , and loans subsequently maturing are expected to be paid by the calendar year end. The LTVs shown in this table are updated for any appraisals ordered and received by the manager after origination of the loan.

Loans - Non - Performing Secure

Loans - Non - Performing Secured Loan, Principal By LTV And Lien Position (Details) - Secured Loans [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 55,230
First trust deeds, percent	95.30%
First Trust Deed Count	14
Second trust deeds	$ 2,749
Second trust deeds, percent	4.70%
Second Trust Deed Count	2
Total principal	$ 57,979
Total principal, percent	100%
Less Than 40% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 13,019
First trust deeds, percent	22.50%
First Trust Deed Count	2
Second trust deeds	$ 1,500
Second trust deeds, percent	2.60%
Second Trust Deed Count	1
Total principal	$ 14,519
Total principal, percent	25.10%
40-49% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 664
First trust deeds, percent	1.10%
First Trust Deed Count	1
Second trust deeds
Second trust deeds, percent	0%
Second Trust Deed Count	—
Total principal	$ 664
Total principal, percent	1.10%
50-59% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 7,115
First trust deeds, percent	12.30%
First Trust Deed Count	3
Second trust deeds
Second trust deeds, percent	0%
Second Trust Deed Count	—
Total principal	$ 7,115
Total principal, percent	12.30%
60-69% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 22,597
First trust deeds, percent	39%
First Trust Deed Count	5
Second trust deeds	$ 1,249
Second trust deeds, percent	2.10%
Second Trust Deed Count	1
Total principal	$ 23,846
Total principal, percent	41.10%
Subtotal Less Than 70% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 43,395
First trust deeds, percent	74.90%
First Trust Deed Count	11
Second trust deeds	$ 2,749
Second trust deeds, percent	4.70%
Second Trust Deed Count	2
Total principal	$ 46,144
Total principal, percent	79.60%
70-79% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 11,835
First trust deeds, percent	20.40%
First Trust Deed Count	3
Second trust deeds
Second trust deeds, percent	0%
Second Trust Deed Count	—
Total principal	$ 11,835
Total principal, percent	20.40%
Subtotal Less Than 80% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds	$ 55,230
First trust deeds, percent	95.30%
First Trust Deed Count	14
Second trust deeds	$ 2,749
Second trust deeds, percent	4.70%
Second Trust Deed Count	2
Total principal	$ 57,979
Total principal, percent	100%
Equal 80% [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
First trust deeds
First trust deeds, percent	0%
First Trust Deed Count	—
Second trust deeds
Second trust deeds, percent	0%
Second Trust Deed Count	—
Total principal
Total principal, percent	0%

Loans - Activity in the Allowan

Loans - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, December 31	$ 55	$ 55
Provision (Recovery) for loan losses	0	0
Charge-offs	0	0
Balance, March 31	120	55
CECL Implementation [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Adoption of CECL	65	0
Adjusted Beginning Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, March 31	120	55
Principal and Advances [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, December 31	30	30
Provision (Recovery) for loan losses	0	0
Charge-offs	0	0
Balance, March 31	60	30
Principal and Advances [Member] | CECL Implementation [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Adoption of CECL	30	0
Principal and Advances [Member] | Adjusted Beginning Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, March 31	60	30
Interest [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, December 31	25	25
Provision (Recovery) for loan losses	0	0
Charge-offs	0	0
Balance, March 31	60	25
Interest [Member] | CECL Implementation [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Adoption of CECL	35	0
Interest [Member] | Adjusted Beginning Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, March 31	$ 60	$ 25

Real Estate Owned (REO) and M_2

Real Estate Owned (REO) and Mortgages Payable - Summary of REO Transactions and Valuation Adjustments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Real Estate Owned REO Details [Line Items]
Balance, beginning of period	$ 5,911
Valuation allowance adjustment	0	$ 0
Balance, end of period	$ 5,911

Real Estate Owned (REO) and M_3

Real Estate Owned (REO) and Mortgages Payable - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) Property	Mar. 31, 2022 USD ($) a Property	Dec. 31, 2022 USD ($)	Jun. 30, 2020 Property
Real Estate Owned REO Details [Line Items]
Real estate owned (REO), net	$ 5,911		$ 5,911
Number of real estate properties | Property				2
Valuation allowance adjustments	0	$ 0
Accrued property tax expense	22
Holding costs	54	84
Accounts Payable
Real Estate Owned REO Details [Line Items]
Prepaid Insurance	4
Negative escrow and unpaid late charges	231
Partnership Property Held For Sale [Member]
Real Estate Owned REO Details [Line Items]
Real estate owned (REO), net	$ 5,900	$ 8,300
Number of real estate properties | Property	3	3
Los Angeles County
Real Estate Owned REO Details [Line Items]
Number of real estate properties | Property	2
Mortgage Note Payable Member
Real Estate Owned REO Details [Line Items]
Derivative, Fixed Interest Rate	4.125%
Principal due	$ 1,300
Monthly payments of notes payable	8
Interest payable	28
Principal and Interest in Arrears	$ 52
Mortgage Note Payable Member | LIBOR Member
Real Estate Owned REO Details [Line Items]
Thereafter interest	2.25%
San Francisco County | Unit Storage Locker and Signage [Member]
Real Estate Owned REO Details [Line Items]
Occupancy rents received	$ 3	$ 3
San Francisco County | Partnership Property Held For Sale [Member] | Home Subdivision
Real Estate Owned REO Details [Line Items]
Number of units in real estate property | Property		1
Stanislaus County | Partnership Property Held For Sale [Member] | Commercial Property
Real Estate Owned REO Details [Line Items]
Area of real estate property | a		14

Real Estate Owned (REO) and M_4

Real Estate Owned (REO) and Mortgages Payable - Summary of REO, Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Real Estate [Abstract]
Holding costs, net of other income	$ (54)	$ (84)
Valuation allowance adjustment	0	0
REO, net	$ (54)	$ (84)

Line of Credit - Schedule of Ac

Line of Credit - Schedule of Activity Involving Line of Credit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Disclosure [Abstract]
Balance, January 1	$ 10,000	$ 0
Draws	0	10,800
Repayments	0	(1,000)
Balance, March 31	10,000	9,800
Line of credit - average daily balance	$ 10,000	$ 3,758

Line of Credit - Additional Inf

Line of Credit - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Line Of Credit Facility [Line Items]
Pledged Loans Aggregate Principal Amount	$ 21,100		$ 23,200
Amortization of debt issuance costs	7	$ 14
Payments of Debt Issuance Costs	0	57
Interest expense	$ 215	75
Ameribor [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, interest rate description	the Ameribor Rate plus three and one-quarter percent (3.25%); and (ii) five percent (5.0%). The fair value of the balance on the line of credit is deemed to approximate the recorded amount because the reference rate plus 3.25% and the other terms and conditions, including the two-year term, of the Revolving Line of Credit and Term Loan Agreement are reflective of market rate terms (Level 2 inputs).
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, maximum amount outstanding during period	$ 10,000
Line of credit facility, conversion of outstanding principal balance to term loan of fee	0.25%
Maturity date extended	Mar. 31, 2026
Line of credit facility, description	RMI VIII has the option at the maturity date to convert - for a fee of one-quarter of one percent (0.25%) – the then outstanding principal balance to a two-year term loan maturing in March 2026.
Line of credit facility, interest rate description	per annum rate of the greater of (i) five percent (5%) or (ii) the sum of the one-month LIBOR rate plus three and one-quarter percent (3.25%).
Line of credit facility, interest rate	5%
Interest rate, increase (decrease)	0.25%
Line of credit facility, unused line of fee	0.50%
Line of Credit Facility, Commitment Fee Description	there is a quarterly unused line fee equal to one-half of one percent (0.50%) per annum of the average daily difference between the average principal outstanding and fifty percent (50%) of the maximum principal of $10 million.
Maximum Allowed Advance	$ 10,000
Amortization of debt issuance costs	7	$ 14
Payments of Debt Issuance Costs	$ 57
Revolving Credit Facility [Member] | LIBOR Member
Line Of Credit Facility [Line Items]
Line of credit facility, interest rate	(3.25%)
Revolving Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Minimum compensating balance amount	$ 1,000
Revolving Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, average rate	50%
Line Of Credit [Member]
Line Of Credit Facility [Line Items]
Interest rate, increase (decrease)	8.14%
Minimum tangible net worth	$ 50,000
Debt instrument, covenant description	the partnership shall maintain (i) minimum tangible net worth of $50 million, net of amounts due from related companies; (ii) debt service coverage ratio at all times of not less than 2.00 to 1.00;
Line Of Credit [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Debt service coverage ratio	1
Line Of Credit [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Debt service coverage ratio	2
Line Of Credit [Member] | Maximum [Member] | Financial Asset, 61 Days Past Due [Member]
Line Of Credit Facility [Line Items]
Delinquency rate	10%