A borrower approached LFB Ventures with a financing request on their short-term rental condo in downtown San Diego. The borrowers purchased the property with a bridge loan, renovated the unit, and had been renting it out as a vacation rental for the last 6 months. Due to the limited short term rental history, it was challenging for the borrowers to identify a conventional lender who could provide the requested proceeds.

The unit was newly renovated and was situated in one of downtowns prominent residential towers that overlooked Petco Park, home of the San Diego Padres. Due to the ideal location and rentability of the property, LFB Ventures was able to act as a correspondent lender and provided a 60% LTV loan through one of our preferred capital partners. The loan was fixed for 30 years and featured no DSCR, or rental income seasoning, requirements. LFB will continue to help borrowers, and brokers, with all of their real estate financing needs nationwide.