Los Angeles, CA

$632,800

Single Family Residence

Residential Fix and Flip

06/16/2021
Transaction by
S&L Capital Group
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 with out feeling like they are being "surprised" at the finish line.