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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
03/03/2022
Property Type
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
Renovation Budget Funded
100%
Loan-to-After-Repair Value
82.22%
Deal Summary
At S&L Capital Group, we feel Hard Money doesn’t have to be Hard, Difficult, or Stressful. When working with a hard money, or private lender, ask yourself what are the positives of the relationship? All things consistent, are you getting treated like you should? Does your lender add stress to your business, or take the stress away from your business? (Don’t kid yourself, it’s either one or the other.) Here is a recent funding for a repeat client of ours in Los Angeles, CA. We put together a $703,000 fix and flip loan that came in at 80% purchase / 100% rehab and 82.22% LTC. We felt they were acquiring a property with built-in value as there was already a permitted unit at the rear of the property. The property was dated but all things considered, was in reasonable condition. From the initial loan app to funding, we were in a position to fund in 8 business days. This fix and flip loan was funded in March 2022.
Funded By
S&L Capital Group
Brea, CA