JLJ Capital works with experienced originators, asset managers, and developers on providing short-term financing (generally 12 months or less) used for the purchase and refurbishment/construction of residential real estate projects to be re-sold after refurbishment/construction is complete.
RESIDENTIAL FIX & FLIP LOANS ARE NON-CONSUMER LOANS
Borrowers are primarily ‘fix and flip’ investors that typically sell the properties within 6 to 12 months of acquisition. Ideal borrowers should have a verifiable track record and liquidity. Loans are secured by first mortgage liens and personal guarantees in most cases.
CURRENTLY ACCEPTING PROPOSALS
| Bridge | Bridge |
|---|---|
| LOAN TYPE | Residential Fix and Flip |
| TOTAL COMMITMENT | Up to $5,000,000 |
| SINGLE LOAN SIZE | $250,000 - $2,000,000 |
| TERM | 6 - 12 months (subject to discretionary 1 to 3 month incremental extensions with 0.50% fee) |
| INTEREST RATE | Approx. 9%-10% based on a margin over 30 Day LIBOR |
| LOAN TO VALUE "AS COMPLETE" | Up to 75% |
| LOAN TO COST | Up to 85% |
| PROPERTY | Single Family: 1-4 units, Multifamily: 5+ units, Mixed Use: Residential is more than 50% |
| ORIGINATION FEE | Greater of $1,500 or 1% - 3% |
| PERSONAL GUARANTEE | Yes in most cases |
| CLOSING TIMELINE | Less than 30 days |
| AMORTIZATION | Interest Only |
| GEOGRAPHICAL FOCUS | Nationally |
EXPLORE JLJ CAPITAL'S LENDING PROGRAMS
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