Fix & Flip Loan for SFR in Los Angeles, California

Funded by RCN Capital


Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date


Property Type
Single Family Residence
Property City


Property State


Loan Term (months)


Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Renovation Budget


Renovation Budget Funded


Borrower's Contribution to Budget


After-Repair Value


Loan-to-After-Repair Value


Renovation Project Scope

Light Rehab

Property Neighborhood


Location Type


Number of Units


Building Square Footage


Borrower's Plan

Rehab and Sell

Exit Strategy


Borrower Credit Rating


Interest Rate


Origination Points


Deal Highlights

Borrower is an experienced investor seeking to purchase and rehab a single-family residence.
Property purchased for 900k, Borrower looking to do 140k in rehab for a resale price of 1.19M.
These returns evidence an estimated 10.99% ROI for the investor.

Deal Summary

RCN Capital, a national direct private lender, funded an $833,000 1st lien position fix and flip loan for a single-family home in the Chatsworth neighborhood of Los Angeles, CA. We funded 100% of the $140,000 renovation budget and 77% of the $900,000 purchase price, while the Borrower contributed 23% cash to the purchase at closing. The after-repair value was estimated at $1,190,000 which put our loan at 70% loan-to-after-repair value and evidences a return on investment for the Borrower of just over 10.99%. The Borrower was a new client for RNC but an experienced investor with 3+ verified successful flips completed. They had good credit and bank statements that evidenced sufficient assets and liquidity. The Borrower had excellent credit. They plan to sell the property as an exit strategy upon completion of the light rehab. The subject property was approximately 1,922 square feet. The interest rate was 11.49% and we charged 0.5% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in March 2024. 

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans


Bailey Jenkins

Team Loan Officer

Bailey Jenkins, Team Loan Officer, joined RCN Capital in 2023. Bailey specializes in fostering long-term mutually beneficial relationships with brokers and borrowers to ensure their mission-critical priorities are achieved. His previous experience in adjacent industries allows him to bring a portfolio of skills such as concise communication and consultative problem-solving that will be instrumental in better serving his clientele. Prior to joining RCN Capital, Bailey graduated from Appalachian State University earning a BSBA with a focus of marketing and sales.