)
Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
01/31/2022
Property Type
Property City
Los Angeles
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Purchase Price
76.80%
Borrower's Contribution to Purchase
23.20%
Source of Borrower's Contribution
Cash
Number of Units
2
Deal Summary
S&L Capital Group, a California-based lending firm, recently closed a loan for a repeat client in Los Angeles, California. The property needed a lot of work but it had a lot of positive attributes. A great selling point for our clients on the disposition was that there were 2 units on this property. The 2nd unit had a separate entrance from the back side of the property and the seller already evicted the tenant prior to closing. We put together a $1,000,000 fix and flip loan at 76.80% LTC. A continued hurdle in the value add space is obtaining the appropriate Title Insurance when there is a fund control in place. Our team’s direct track record with the closing Title Company allowed us to navigate the closing without any delays due to coverage requirements. This fix and flip loan was funded in January 2022.
Funded By
S&L Capital Group
Brea, CA