Fresno Fix and Flip Lenders
Are you searching for reliable source of funding for your next estate investment project? Need to get a loan fast for a lucrative opportunity? Perhaps you are having a hard time getting a loan from a bank or other conventional lender. There are various ways of financing real estate purchases, but one of the fastest ways is to get a fix and flip loan. If you are interested in learning more about this type of loan, or if you want to get access to the money you need right away, this article is for you.
Fresno Fix and Flip Lenders at Delancey Street can fund your next fix and flip investment property. Lucrative opportunities show up from time to time and it’s imperative that you act fast before the competition does. Many real estate investors find great deals, and find have a hard time getting a loan from a bank or other traditional lender. When it comes to fixing and flipping projects, speed is crucial. You need the resources to execute your plan and make attractive offers on the deal. That’s where Delancey Street comes in.
Fresno Fix and Flip Loans Explained
A fix and flip loan is a specific type of loan used to acquire a real estate property. The goal is to do the necessary repairs in anticipation of an immediate sale. A fix and flip loan offers a great way to secure financing if you’re a beginner in the real estate industry. It is also perfect who veteran investors who are short on cash and have to get funding right away.
Purchasing a home, fixing it up, and then reselling it is a proven way to make money. However, if you’re getting started and do not have upfront cash to buy the property and pay for the repairs, you will need a fix and fix loan.
Fix and flip loans are secured by the value of an asset. These loans typically carry a high interest rate and are used to fund the purchase of foreclosed or distressed properties that do not qualify for conventional financing.
Easy To Qualify
Borrowers do not need to go through long application process or other hassles that are usually associated with getting a loan from a bank. Because fix and flip loans are made by hard money or private money lenders, as opposed to conventional lenders, they have different rules and greater flexibility.
Credit Is Not A Problem
Banks and other traditional loan sources are often reluctant to deal with borrowers who have poor or bad credit history. If you have credit problems or low credit score, they don’t want to approve you.
Fix and flip loans make it easy for investors to obtain funding for their project. These lenders don’t focus on a borrower’s credit score or their credit history. If you have a viable idea and can present your loan request appropriately, fix and flip lenders will be willing to work with you.
Fresno Fix and flip loans can be obtained relatively fast, whereas traditional loans usually take up to a month or more to be approved. Real estate investors need to obtain funding fast to take advantage of lucrative opportunities in the Fresno real estate market. In most cases, the fix and flip loan application process takes just several days to one week. This is super fast, compared to traditional lenders that can take several months.
The Right Fresno Property
It is important to find the right property before you start looking for a loan. You’ll want to do your research and ensure that you find a really good deal. Keep an eye out for foreclosed properties, or homes that have sustained damage due to water or fire. Once you have found the right house, the next step is to get a fix and flip loan.
Contact Us Right Away
Delancey Streets offer competitive Fresno fix and flip loans. If you are looking at a property to fix and flip, it’s a good idea to contact us and get pre-qualified immediately. We can help you secure the funding you need to take your business to the next level.