Fix & Flip Loan for SFR in Los Angeles, CA

Funded by S&L Capital Group

480,000

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

10/13/2022

Property Type
Single Family Residence
Property City

Los Angeles

Property State

CA

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price

$600,000

Loan-to-Purchase Price

80%

Borrower's Contribution to Purchase

20%

Source of Borrower's Contribution

Cash

Property Condition

Poor

Occupancy at Closing

Vacant

Building Square Footage

1,764

Lot Square Footage

4,194

Borrower's Plan

Rehab and Sell

Deal Summary

S&L Capital provided an acquisition bridge loan to a repeat borrower implementing a fix and flip strategy on an SFR in Los Angeles, California.  This was our 5th funded loan for this borrower that has a growing track record in the great Los Angeles area.  The borrower elected to go for an 80% LTP bridge loan, with no fund control.  While most lenders seem to like to max out leverage and force a component of the rehab to be financed, S&L Capital Group offers its borrower’s an option to not finance rehab.  This loan structure has multiple benefits and allows the borrower to move through the renovation more efficiently without the headaches of utilizing a fund control for a small rehab.  This rehab is estimated to be completed within 3 months.

Funded By

S&L Capital Group

Brea, CA

Dealmakers

Corey Siegel, President

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