Direct Lender for Residential Investors in California & Texas

Bridge | Fix & Flip | 30-Year Rental | Ground-Up Construction

Easy Street Capital is 100% committed to earning the borrower’s trust and confidence. We underwrite your deal within 24 hours and the terms that we issue are the same terms we fund. We can fund in 2 days, and will consider waiving appraisals. We’re based in California and Texas with boots on the ground in each metro area. We have firsthand local knowledge to help add value to your project.

Please Note: We do not offer loans for land, commercial properties or owner-occupied homes.

Property Geographic Area Details

Texas and California non-rural areas

Loan Amounts

$50,000 to $5,000,000

Interest Rates

8.75% to 13.50%

Max Loan-To-Value

70.00%

Max Loan-To-Cost

90.00%

Origination Fees

1.5% to 3%

Loan Terms

6 months to 12 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
Minimum Occupancy Percentage

0%

Property Types and Loan Types

Collateral Types

  • Residential Property

Property Types

  • 2-4 Units Residential
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction
  • Residential Long-Term Rental

Specialty Loan Types

  • Residential Long-Term Rental

Purchase Loan

Max LTC is 90%, market dependent. Max ARV LTV is 70%. Down payment for the purchase will be from borrower, and that can include a member of the LLC. Cross collateralizing assets to cover the down payment is acceptable on a case by case basis.

Max Loan-To-Purchase Price

90.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash
  • Equity in Subject Property
  • Equity in Another Investment Property

Rehab Value Add Loan

Borrower should have some direct investing experience, but can include trades such as real estate agents or general contractors. Exceptions on case by case basis.

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

1

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

90.00%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

3

Maximum After Repair Value

70.00%

Construction Loan

Borrower needs to be able to show experience of at least 1 completed ground up construction project. Need permits in place prior to issuing first draw for construction costs.

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

1

Max LTC for Ground-Up Construction Costs

75.00%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Residential Long-Term Rental

Easy Street Capital offers non-QM Debt Service Coverage Ratio (DSCR) loans. Rates and terms are fluid based on market conditions.

Minimum Loan Amount

$150,000

Maximum Loan Amount

$2,000,000

Minimum Interest Rate

6.5%

Maximum Interest Rate

8.75%

Minimum Origination Fee

1.5%

Maximum Origination Fee

3%

Minimum Loan Term

36 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

75.00%

Maximum Loan-To-Purchase

75.00%

Seasoning Time

6 months

Minimum Debt Service Coverage Ratio

1.15

Will Lend on a Portfolio of Rentals

No

Minimum Property Value

$200,000

Details and Requirements

Fastest Closing Time (Days)

2

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Corporation
  • Non-Profit Corporation
  • Self-Directed IRA

Documentation Required

  • Credit Report
  • Bank Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

660

Credit Check Description

These are general guidelines and exceptions can be considered on a case by case basis with potential impact on rate and leverage levels.

Appraisal Required for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Fees

Processing Fee

A set $1,495 document and processing fee covers all lender underwriting and closing costs.

Minimum Origination Fee Amount

$2,000

Legal Disclaimer

Easy Street Capital is a DBA licensed with California Department of Real Estate, BRE#: 02090209 and Easy Street Capital CA, LLC is licensed with the California Department of Business Oversight, CFL#: 60DBO-97686.

Easy Street Capital is a direct lender headquartered in Texas, with offices in California and Washington. The three partners have extensive residential investment experience and have previously flipped over 2,000 residential properties. Easy Street differentiates itself from other lenders by handling all underwriting and due diligence in house, and can fund in as little as 2 days.

License

CA DRE Lic. 02090209, CFL 60DBO-97686

Company Size (Number of Employees)

15

Year Established

2016

Office Locations

Easy Street Capital - Austin
201 W 5th St, Austin, Texas 78701

Easy Street Capital - Irvine
19900 MacArthur Blvd, Irvine, California 92612



Primary Capital Source

  • Own Funds
  • Debt Fund We Manage
  • Single Capital Partner

Alternative Capital Sources

  • Family Offices
  • Bank Credit Line

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • One Investor One Loan

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Fix and Flip

75%

Percentage of Residential Property Loans Which are Buy and Hold

25%

Percentage of Residential Property Loans Which are Ground-Up Construction

5%

Total Number of Loans Funded to Date

500

Total Loan Volume Funded to Date

$250,000,000

2017 Number of Loans Funded

75

2017 Loan Volume Funded

$25,000,000

2018 Number of Loans Funded

175

2018 Loan Volume Funded

$75,000,000

2019 Number of Loans Funded

250

2019 Loan Volume Funded

$150,000,000

Stephen Hagerman

President

Mr. Hagerman is the President and founder of Easy Street Capital. Mr. Hagerman’s efforts focus on capital sourcing, strategy, and overall economic performance of Easy Street Capital, LLC. Over the past 15 years Mr. Hagerman has created residential investment, brokerage, construction, and escrow companies that have completed transactions valued over $1 billion. Mr. Hagerman has acquired, renovated, and sold over 2,500 residential assets and established residential offices in markets throughout Texas, California, and Arizona.

Casey Denton

Partner

Mr. Denton is a Partner at Easy Street Capital. Mr. Denton’s primary responsibilities at Easy Street include origination, underwriting, and investor relations. Over the last 10 years Mr. Denton has been involved with the acquisition, renovation, and disposition of over 1,000 residential assets located in California and Texas. Mr. Denton has inspected and renovated over 500 homes and has experience managing over $30mm of residential construction projects. Mr. Denton has developed a large network of residential construction relationships throughout Texas including vendors, contractors, and inspectors. Additionally, Mr. Denton has overseen the origination, funding, and servicing of over 300 residential loans totaling over $100mm.

Scott Townes

Partner

Mr. Townes is a Partner at Easy Street Capital, overseeing all California operations. His background includes capital raising, portfolio management, asset management, business operations, and software development. He began his career as an Intelligence Officer in the Marine Corps where he twice deployed to combat operations in Iraq. Following his military career, he spent the next 10 years focused on real estate investments. He built and managed a business platform that successfully invested over $1B of equity in residential and small cap multi family assets across multiple states. Over the last year, Mr. Townes originated and managed a $50M California debt portfolio. Mr. Townes holds an undergraduate degree from James Madison University where he majored in Computer Information Systems, and an MBA from University of California, Anderson School of Business.

License Information
CA DRE Broker License - 01982219
NMLS ID - 1726407

Easy, efficient, and perfect for flippers! We love doing business with the company and are completing our third flip in 9 months! Thank you! Thank you! Looking forward to doing business on the next one.

Catherine C.

Google Reviews

Well done! When my initial lender asked for an extension 3 days before closing the Easy Street team stepped in and saved the day! I appreciate their ability to close quickly and get the deal done.

Brandon R.

Google Reviews

Easy Street has been very easy to work with. We appreciate the communication and quick responses. They really do understand that time is of the essence in real estate. The entire process was a breeze and we look forward to continue working with them!

Christopher C.

Google Reviews

Easy Street was flexible enough to work around some extension issues due to some unseen hurdles in my house flip. Eternally grateful to Easy Street for making things as smooth as possible. Would definitely recommend them to anyone getting started in house flipping.

Angel C.

Google Reviews

In a market that is full of hard money lenders, we made the best choice in using Easy Street. Closed my deal on time and they didn’t ask me to bring my “first born”. It was easy and it allowed me to start my business and keep more of my profit!!! Easy Street is the best in the business! Straight forward & easy!!

Mike N.

Google Reviews

I was able to obtain a loan from Easy Street to invest in purchasing a house in TX for fixing up & flipping. Easy Street is one of the best lenders I have dealt with and they are genuinely interested in assisting the investor to be successful with whatever your project is. I would highly recommend them to anyone who needs funds for investment in real estate.

Judson G.

Google Reviews

Easy Street is great for investors needing to close fast at competitive hard money rates. They have much less red tape to approve and the numbers make sense. This really made it possible for us to move fast and get the deal done.

Mirelle L.

Google Reviews

I have had a good experience with Easy Street Capital. I was able to close my deal quickly with very timely underwriting. The company should be able to close very quickly if you need a quick close. The rehab draws I requested were reviewed and issued quickly as well (basically next day or two). The communication and all processes of the loan have been simple throughout my time working with them.

Ross C.

Google Reviews

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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how will the loan be paid off?

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