Private Mortgage Lending for California Property Investors

S&L Capital Group is very much a deal by deal company. Our main goal is to assess each deal as a standalone transaction, and put loan options together that meet clients’ needs and investors’ interests.  We enjoy providing clients with multiple options on each transaction, so they can choose what is best for each particular deal.

Please note: we do not offer loans for owner-occupied homes.

 

Property Geographic Area Details

California metropolitan areas

Loan Amounts

$20,000 to $5,000,000

Interest Rates

6.99% to 10.99%

Max Loan-To-Value

80.00%

Max Loan-To-Cost

80.00%

Origination Fees

1.25% to 3%

Loan Terms

6 months to 36 months

Lien Position

  • 1st
  • 2nd

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%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Assisted Living Facility
  • Auto Repair
  • Bed and Breakfast
  • Commercial Condominium
  • Condominium
  • Event Center
  • Gym
  • Healthcare
  • Industrial
  • Manufactured Home
  • Mixed-Use
  • Multifamily
  • Office
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • Ranch
  • Retail
  • Senior Housing
  • Single Family Residence
  • Storage Facility
  • Student Housing

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent

Specialty Loan Types

  • Foreclosure Bailout
  • Primary Residence Business Purpose Cash Out
  • Transactional Funding

Junior Liens

Junior Lien Loan Amounts

$20,000.00 to $100,000.00

Junior Lien Interest Rates

12.99% to 16.99%

Junior Lien Loan-to-Value

70.00%

Junior Lien Loan-to-Cost

95.00%

Junior Lien Origination Fees

2.00% to 3.00%

We Fund Junior Position Loans

Often

Junior Lien Types

  • Purchase
Junior financing is provided for borrowers that are implementing a fix and flip strategy. S&L Capital Group will write a note junior only to another note it has originated. In most instances we will cap its combined LTV at 70% of the after repaired value. On average, this equates to a combined LTC between 90%-95%.

Purchase Loan

Max Loan-To-Purchase Price

100.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Equity in Primary Residence
  • Seller Financing
  • Crowdfunding
  • Family

Rehab Value Add Loan

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

no

Max LTC for Renovation Costs

0%

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

3

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

Will lend to a foreign national

yes

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

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

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

Documentation Required

  • Credit Report
  • Bank Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Sometimes

Credit Check Required

yes

Minimum Credit Score Required

500

Credit Check Description

Though credit is run on each submission, the overall credit score is not the ultimate deciding factor on if a loan is approved or not. Credit is reviewed to confirm that the borrower does not have any pending litigation in the form of Bankruptcy , back taxes, and/or child support liens.

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Underwriting Fee

$495.00 to $495.00

This fee is paid through the close of Escrow subsequent to funding.

Processing Fee

This fee is paid through the close of Escrow subsequent to funding.

Documents Fee

This fee is paid through the close of Escrow subsequent to funding.

Inspection Fee

In some instances, a BPO can be received in lieu of an appraisal. If we are to waive the appraisal, we will need to have an inspector walk the property in order to document its current condition. This fee will either be paid directly to the inspector at the time of the inspection, or through the close of Escrow.

Renovation Construction Draw Fee

There is a $450 set up fee and inspections for each draw range from $200-$275. These fees are not paid to S&L Capital Group but directly to the 3rd parties performing the services.

Fees which are mandatory for all new borrower clients

  • Underwriting Fee
  • Processing Fee
  • Documents Fee

Fees which are charged upfront prior to loan closing

  • Appraisal Fee
  • Inspection Fee

Fees which are paid to a third party company

  • Appraisal Fee
  • Inspection Fee
  • Renovation or Construction Funds Draw Fee

Legal Disclaimer

Loan amount, terms, pricing, and any costs associated with any transaction referenced hereto are not binding. Approval of term, structure, loan amount, etc. will be provided at S&L Capital Group's sole discretion subsequent to review of a complete underwriting file.

S&L Capital Group is an Orange County based private lending firm.  Over the years, the founders noticed a common trend in the industry when it came to getting deals to the funding table, “there are just too many hands involved in the process.” Corey Siegel and Brad Laddusaw founded the company with the mindset of leaning up, creating efficiencies with strategic resources, and cutting all the fat out of the submission, underwriting, and funding processes.  Our borrowers have a certain peace of mind knowing they are talking to the final decision makers throughout the process.  If you’re looking for a straightforward lender, who prides itself on transparency, efficiency and diligence, give S&L Capital Group a call.

License

CA DRE Lic. #02041544

Year Established

2017

Associations

  • California Mortgage Association - Active Member - Education Committee
  • Rotary Club of Brea - Active Member
  • Rotary Club of Irvine - Active Member
  • Brea Education Foundation - Board Member

Office Locations

Corey Siegel
614 E. Date Street, Brea, California 92821

Bradley Laddusaw
188 Roosevelt, Irvine, California 92620

Primary Capital Source

  • Individual Investors
  • Family Offices

Alternative Capital Sources

  • Own Funds

Loan Structure for Majority of Loans

  • One Investor One Loan

Alternative Loan Structures

  • Table Funding with Capital Partner

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Commercial Mortgage Brokerage
  • Note Investing

Percentage of Loans Secured by Commercial Property

45%

Percentage of Loans Secured by Residential Property

55%

Percentage of Residential Property Loans Which are Fix and Flip

57%

Percentage of Residential Property Loans Which are Buy and Hold

43%

Corey Siegel

President/ CEO

Corey Siegel graduated from California State University, Fullerton with a Major in Business Administration and a minor in Speech Communication. With a passion for building relationships, and a desire to have a positive effect on real estate investors, Corey and Brad set out to open a business that would do just that. In an industry that is littered with red tape, S&L Capital Group strives to make the lending and borrowing process efficient, transparent and accountable. Corey resides in Brea, CA and can be found spending time with his wife Katy and their dog Wrigley. You will also see Corey staying active at his local gym, on the golf course or enjoying a night out in downtown Brea. He is also very active in his local community as a member of the Rotary club of Brea and as a Board Member for the Brea Education Foundation.

License Information
CA DRE Broker Lic. - 01922388

Bradley Laddusaw

CFO

Brad Laddusaw, CPA, graduated from California State University, Fullerton with a double major in Accounting and Finance. He started his career in the audit practice of Ernst & Young, LLP where he serviced clients in the Real Estate, Home Building, and Retail Consumer Product industries. Subsequent to leaving Ernst & Young, he joined the Investor Relations’ team at a Los Angeles based private lending company, where he quickly moved up the ranks to Vice President Finance. In July 2017, Brad started S&L Capital Group, a Southern California based private lending firm, with his business partner, Corey Siegel, another Cal State Fullerton alumni. Brad has underwritten and directly placed over $165,000,000 in trust deed investments with private investors. He holds an active CAL DRE Brokers license, an active CPA license in the state of California, and is a Level II CFA Candidate. Brad is an active member of the California Mortgage Association (CMA) where he sits on the Education Committee. He lives in Irvine with his wife Jerica where he is a member of the Irvine Rotary Club. Brad enjoys spending time surfing, golfing and playing the occasional pickup basketball game.

License Information
CA DRE Broker Lic. - 01946421
Certified Public Accountant - 119254

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
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months

At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

acres

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