This small cash-out refinance was required quickly in order for the owner to take advantage of a business opportunity. This experienced sponsor had purchased and improved these bread and butter rental properties during the prior twelve months. Located in an older, stable neighborhood of Oceanside, they were free & clear, well maintained, stabilized and leased, much like the balance of the sponsor’s growing residential portfolio.
SFG responded quickly upon receiving the initial call, and was ready to go to loan docs within a few days. After a short delay due to a title issue, SFG closed and provided the urgently needed business capital. And despite the small loan amount and much accelerated responsiveness, SFG’s pricing was among the lowest in the industry. Responsive, fairly priced and always the same elevated level of service regardless of the deal size.
Special thanks to Cristine Clark of Realty Executives in Vista. Cristine and her professional Team truly know Coastal North County’s varied residential sub-markets. Once again, Cristina’s insight as to neighborhood trends and current sales activity allowed SFG to establish value and close this loan quickly…at less than 60% LTV.