Fix and Flip Loan for Glassel Park SFR in Los Angeles, California

Funded by S&L Capital Group

$632,800

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

06/16/2021

Property Type
Single Family Residence
Property City

Los Angeles

Property State

CA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

80%

Borrower's Contribution to Purchase

20%

Source of Borrower's Contribution

Cash

Property Neighborhood

Glassel Park

Deal Summary

S&L Capital Group provided an 80% LTP loan, with no rehab holdback for this flip in the Glassel Park area of Los Angeles, CA. Our Borrowers are established rehabbers that have access to gap funding. As a first-position lender, we do allow our Borrowers to obtain junior financing. For this flip, our Borrowers obtained a junior loan to bridge the gap on the purchase as well as cover their rehab funds.

This deal had its hurdles due to their being a junior private lender. Title tends to get a little hesitant in insuring deals that appear to have too much leverage. S&L Capital Group’s track record with this Title company allowed us to obtain the appropriate coverage and get this one to the funding table in a timely manner. Our team engaged Title as soon as we found out there was going to be a junior lender. This allowed them to work their file without feeling like they arE being “surprised” at the finish line. This SFR fix and flip was funded in June 2021.

Funded By

S&L Capital Group

Brea, CA