Sacramento, CA

$388,000

Single Family Residence

Residential Fix and Flip

06/21/2021
Transaction by
S&L Capital Group
In June 2021, S&L Capital Group funded a $388K hard money loan for a purchase of a single family residence in the East Sacramento. This deal was sourced by our borrower through a wholesaler. Our borrower was new to S&L and needed to close in sub 10 days. With appraisal backlogs quite common in the industry, we were able to put this 80% Loan-to-Purchase Price loan, no rehab holdback, together in less than 10 days, with NO Appraisal. Being able to hit her closing timeline was important since this wholesaler sources a healthy amount of value add properties in the Greater Sacramento area. Not only did we meet her 10 day closing window, but we were able to beat it. Our no appraisal options do not come with an increased note rate, just a shorter closing window. Our borrower intends to perform a cosmetic rehab to this East Sacramento, CA property and flip it with in 6 months. Though she was confident in the 6-month turn time, we put together a 12 month term coupled with no pre-payment penalty.