Purchase Bridge Loan for Short Term Rental Property in Havasu Lake, CA

At S&L Capital Group, we are firm believers that investors should target markets they are familiar with. With that being said, it is important for us to constantly increase our capital allocations in order to accommodate some of these markets. S&L Capital Group recently funded a 24-month, $125,000 acquisition bridge loan secured against a permanently affixed manufactured home in Havasu Lake, CA. This is a small community towards the outer range of Needles, CA, (the CA side of Lake Havasu), directly across the lake from the London Bridge. The HOA recently approved owners to utilize their properties as short-term rentals. Our borrower will be able to rent the property out year round as the summer months, people flood Lake Havasu and during the winter, people frequent the area to go off-roading in the desert. Our borrower intends to refinance our bridge loan prior to maturity and repeat the process. This purchase bridge loan was funded in January 2022.