Residential Capital Partners has acquired 3L Finance, a subsidiary of 2020 REI Group.
In the wake of the acquisition, the lender is now the national hard money and rental finance lending partner to 2020 REI Group. Residential Capital Partners and 3L Finance have been active in the single-family rehab financing space for more than 10 years.
Residential will continue as a hard-money and rental-finance lender in the entire U.S. It understands the demands of one-to-four family residential properties as well as the rehabilitation process. The lender encourages borrowers to enroll in the pre-approval process, so it can move swiftly through the property application when an opportunity presents itself.
[adbutler zone_id="326324"]
[adbutler zone_id="326327"]
“The impact of both teams coming together with a borrower [oriented] platform will mean reach more customers,” said Richard Morgan, a senior executive for Residential Capital.
3L Finance was a subsidiary of the 2020 REI Group, created to support real-estate investors. “We have always loved facilitating and partnering with investors as they pursue their goals through the real-estate investment process. Residential Capital gives us the ability to expand our reach and impact,” saidTim Herriage, founder of the 2020 REI Group.
