Equity Cash Out Loan for SFR with detached garage and upstairs ADU in Los Angeles, CA

Funded by S&L Capital Group


Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date


Property Type
2-4 Units Residential
Property City

Los Angeles

Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value




Property Condition

Newly Renovated

Occupancy at Closing


Number of Units


Building Square Footage


Lot Square Footage


Borrower's Plan

Long-Term Rental

Exit Strategy


Borrower Credit Rating


Deal Summary

S&L Capital recently funded a cashout refinance for a repeat client.  This loan was transaction 1 of 2.  Our borrower acquired the subject property a few years back with little leverage, renovated the front unit, and then developed a detached garage with an upstairs ADU.  This allowed them to have 2 rental units generating a total of $7,200 per month.  Due to the equity established in the property, they approached S&L Capital Group to free up capital in order for them to acquire a triplex in Placentia, CA.  Keeping the leverage low on both properties was important to them.  As such, we did a $550,000 cash-out refinance on the subject property, then provided a $535,000 bridge loan on the acquisition.  The combined loan amount allowed them to come in with $0 to close the acquisition of the triplex while freeing up roughly $100,000 to renovate the newly acquired triplex.  Timing was important on this deal as it was in LA County.  LA County does not allow for same-day recording which delays disbursement upon funding up to 48 hours.  With the acquisition needing to fund on 11/30, we scheduled the signing right before Thanksgiving.  This allowed us to fund the cash-out refinance on 11/28, record on 11/29, then fund the acquisition on 11/30.  This deal was submitted to underwriting on 11/17 and funded on 11/28. 6 business days including the submission date and funding date.  Thanksgiving was spent with family.

Funded By

S&L Capital Group

Brea, CA


Corey Siegel, President

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