San Mateo, CA

$750,000

Single Family Residence

Purchase

07/14/2021
Transaction by
S&L Capital Group
At S&L Capital Group, we do everything in our power to make the closing process as smooth as possible. That resonated with an Escrow Officer we recently closed a deal with. Her words, not ours, "You make my life so easy on our files together." As such, this loan was referred to S&L Capital Group by a well established Escrow officer in Valencia, CA. Our borrower, a licensed Real Estate Agent had sourced the subject property off market and below market which is rare in today's market. His plan was put about $86,000 into the property in order to renovate then refinance out into a long term loan loan to hold the subject property as a rental. His purchase price will leave sufficient equity to work a refinance once the rehab is complete. Our borrower requested a 6 month bridge loan for this San Mateo, CA purchase as he expects the process to take 3 months. Nothing goes as planned so we provided a 9 month bridge loan with no fund control and no interest guaranty.