1031 Exchange for SFR in Chatsworth, California

Funded by S&L Capital Group

$750,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

12/08/2020

Property Type
Single Family Residence
Property City

Chatsworth

Property State

CA

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Exit Strategy

Refinance

Deal Highlights

We were up against a tight closing window or else Borrower’s 1031 was at risk of expiring.
NO interest guaranty. NO prepayment penalty.

Deal Summary

The team at S&L Capital Group values its Broker relationships and can move quickly to salvage 1031 exchanges. This deal was referred over through a Broker. The Borrower had recently sold 1 investment property and had finally locked up the subject property as the second leg of his 1031 exchange. We were up against a tight closing window or else his 1031 was at risk of expiring.

Our Borrower needed a short-term bridge loan with no interest guaranty or prepayment penalty as his plan was to refinance into a permanent loan a few months down the road.

The team provided a 12-month bridge loan with no interest guaranty. This allowed the Borrower to complete his 1031 exchange and refinance the property as quickly as possible in order to keep overall holding costs down. This SFR 101 exchange bridge loan was funded in December 2020.

Funded By

S&L Capital Group

Brea, CA