Private Money Cash Out Refinance for Oxnard Multifamily Property

Funded by S&L Capital Group

Oxnard, CA

$1,320,000

Multifamily

Equity Cash Out

11/18/2021
Transaction by
S&L Capital Group
S&L Capital financed a $1,320,000 cash-out refinance secured by an 8-unit multifamily property in Oxnard, CA. This deal was referred over from a commercial real estate broker in Ventura County. His client was in Escrow to close on another multifamily acquisition and wanted to leverage the subject property which was owned free and clear of any mortgages. Our cash out loan provided the funds needed to close on the purchase with an all-cash offer. The loan-to-value was just 58.67%, and the loan term was set at 12 months, with no prepayment penalty. We charged a 1% origination fee. We did not require an appraisal or a due diligence deposit, and we also did not require a personal guarantee. This private money loan was funded in November 2021.