Frequently Asked Questions

 Yes! It may be used as cross-collateral or used for a cash-out  refinance. That is a great strategy! If you have properties that are  completely paid for with no liens against them, we can do a cash-out  refinance to provide funds for other non-owner occupied investments. You  can also use them as cross-collateral for your real estate investing.  We use both your subject property and your free and clear property as  security for the loan. In doing that, we can lend up to 65% of the as-is  combined value of the two properties. That is often enough to purchase  your subject property and rehab it. If you have free and clear  properties, mention that on your next deal! 

 Our decision is based on the property, the type of transaction, and your  membership in any of our special programs. For most transactions we  will lend up to 90% of the purchase price or 65% of the as-is or  after-repair appraised value, whichever is less. Ask a loan officer  about the special terms available through our membership programs and  special purpose loans. 

 Yes! Ask a loan officer for more details. If you provide more than one  property as security (as described above in regard to cross-collateral)  we can provide 100% financing. If you don’t have free and clear  property, find a partner that does! Sharing half of a nice profit beats  not being able to do the deal! Many of our investors also use  seller-carryback to do the same thing. We recommend finding deals and  purchasing property below appraised value as the best way to secure 100%  financing. 

 Look for people that have a need to sell and get to them before your  competitors do. The simple answer is: wherever you have the least  competition. The harder they are to find, the less competition you will  have, and the better your chances for a good price. It requires work,  but it is work that can end in a deal with profit as opposed to work  that spins wheels but never gets a profitable deal. For instance: talk  to probate or divorce attorneys, find ugly houses, contact out-of-state  owners, etc. Be creative! 

 Yes, for the right deals. If the numbers work and we think the deal will  be profitable, we will loan on the After Repair Value (ARV). We  recommend you have solid experience doing or managing such repair work.  You will need to supply licensed contractor bids as well as meet certain  other requirements. Bring us the deal and let’s discuss it. 

 By using a true self-directed IRA and making all legal payments from it  and depositing all complying profits into it. You should seek legal and  financial advice first. You must have a true self-directed IRA. There  are many IRA administrators that offer such accounts. Then you buy the  property in the name of the IRA, furnish the earnest money from the IRA,  apply for the loan in the name of the IRA, pay all costs from the IRA,  and put all the profit back into the IRA. This is a topic that requires  much more detail than we have room for here. Please contact your legal  or financial advisor for the details. Also search online for  self-directed IRA custodians to learn more about your options. 

 Yes! We love flippers! If the deal makes sense, we will help you get it done. Speak to a loan officer for more details. 

Slayton Capital Group :LLC requires a recent (less than 90 days old), independent,  standards-based, third party, as-is evaluation of every property used as  security. BPOs, CMAs, or outside appraisals do not generally satisfy  all those requirements. Your best bet: Go with ours. They are performed  by local appraisers in your market, working at competitive rates, and  doing the appraisal the way we need it to be done. The appraisal report  will come to us and you will receive a copy. 

 Our loans are asset-based and our decisions are logic-based. That means  we base our decisions about funding and rates on the perceived risk  associated with the property. If you have a property under contract,  submit it. Our rates are competitive in the private money market but we  save our best rates for our best clients. Get started today to become  one of those repeat, best clients! Get a property under contract and  submit it! 

 Legal and regulatory reasons. Our current business model is to provide  bridge loans to real estate investors for terms ranging from three to 24  months. As a result, it is not cost-effective for us to implement the  complex and restrictive processes and rules required by regulatory  agencies to do business with owner-occupants. 

 No. Our loans are asset-based. We base our loans on the value of the  asset, not on your credit score, income, or the size of your debts.  However, a high credit score can potentially get you our better rates. 

 Three to four days after we receive all required documentation, which  can often take three to four weeks. Though we can do it faster, a good  estimate would be three to four weeks after we receive the basic  application package. The key factor is the amount of time it takes you  and your team to supply all the supporting documentation. We can do our  part in 3-4 days, but first-time borrowers rarely get us the documents  quickly enough and complete enough to meet that. Go for 30 days or more  whenever you can. Remember: if time to close is a factor, you probably  have competition. Competition does not usually translate into a good  deal. Forget such a deal and go find a good one! (Admittedly, sometimes  other factors dictate closing time. If that’s the case, bring us the  deal and let’s discuss it!) 

 Rates are determined by the going rates for appraisals in your market.  This could vary between $300 and $600 (or more). The appraisal price  also depends on the property type and location. A typical single family  residence, condo, townhouse, or manufactured home may cost between $395  and $575. Multi-family units may cost between $550 and $645. If the  property is in a rural area, it may cost more because of added drive  time or appraiser availability. 

 Yes, if you create an LLC, a corporation, an IRA, or a trust before the close of escrow. 

 Our funding is solely based on properties you already control via  ownership or contract. We cannot provide cash in advance for auctions  that require immediate payment. Since all loans are asset-based, we must  have a lien as security on property you own. The primary way to procure  funding prior to getting a property under contract is to have another  property that is free and clear and take out a loan against it.  Alternatively, you can find a professional auction bidder who will  supply the bidding presence and the purchase cash in exchange for a fee  (often $5-10 thousand or a percentage) with the rest of the funds paid  later at close of escrow.