Chat with us, powered by LiveChat %%title%% | %%sitename%% | Best Fix and Flip Loans in Wyoming | Delancey Street

Wyoming Fix and Flip Loans

We empower entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner.At Delancey Street, we invest in people and their ideas – not abstract concepts like credit scores, or other financial metrics. Tell us about your idea, let’s discuss your opportunity

1

High LTV

We fund hard money loans up to 80-90% LTV with no issues.

2

Fast

We promise to treat you like a partner

3

No $ Limit

No limits on what we can do for you.

Business Funding

Our client was a trucking company based out of NY, that needed quick funding. In 24 hours, we arranged $100,000 in funding.

Raised
APR
ARV
700,000
9,0%
60%
100% Funded!

Residential Refinance

We funded a purchase in California, for $1.2 million with 65% LTV. We helped the developer with with a 11% loan with balloon payment.

Raised
APR
ARV
1,200,000
11%
82%
100% Funded!

Lawsuit Funding

Client was injured in a car accident and needed a cash advance on the future value of his lawsuit. In 48 hours, our funders wired funds over.

Raised
APR
ARV
830,000
8,99%
75%
100% Funded!

PARTNERS FIRST.
LENDERS SECOND.

Hear from people we've helped

Delancey Street makes lending easy. They took a chance on me when no one else would.

Leo kovacz

Founding Partner (Zooomr Car Leasing)
Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.
Delancey Street makes lending easy. They took a chance on me when no one else would.

Kevin Johns

~

Industries We Service

Cannabis
Residential Real Estate
Commercial Real Estate
Startups

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

Wyoming Fix and Flip Loans

You already know that you’re interested in buying and flipping a home. You’re excited about the possibility of making a profit by making a home look beautiful before passing it on to an excited buyer. You even have a good idea of which house you’re interested in flipping. You’re here because you need to figure out how to get funding for your flip. This is where fix-and-flip loans come in. They’ll help with the costs associated with the flip, including the following:

  • Create a business plan for your flip so that your potential investor knows exactly how you plan to work the flip from beginning to end.
  • Map out a clear estimation of your renovation costs. A clear scope of work can let your investors know that you’re clear on where every penny is going.
  • Build up your connections list. This will help you stay in contact with investors who have the same goals as you.

Why You Need a Loan to Finance Your Flip

Many people interested in financing a flip don’t have the funding to do so. They’ll need funding to take care of the extensive costs associated with buying a flip. Those costs include the following:

  • The actual purchase price of the house, 20 percent to 45 percent of which you’ll need to bring to the closing as a down payment.
  • The holding costs of the home, which include items like HOA fees, insurance payments and all the other costs that will need to be covered while the house is in “fix” mode.
  • All of the costs associated with the reno, including materials, tools and labor.
  • The costs associated with the sale portion of the house, including the realtor costs and closing costs.

Traditional Banks Are Not the Way to Go

You’ll go to a traditional bank to purchase a regular home, but that’s unlikely to work for a fix and flip. When you identify yourself as a flipper to a bank, you’re essentially outing yourself as an investor, with all of the associated risks that investors carry. Banks look at investor income as irregular and random, making it too risky for a traditional loan. Real estate loans from banks are usually long-term loans, and the loan you’d be looking for as a flipper would be short term.

Flippers Look for Non-Traditional Loans

Since traditional banks are usually not an option, many flippers turn to non-traditional means to get funding for their flips. This is where fix and flip loans come into play. There are several funding sources for flx and flip loans, but before you apply, make sure that you have a plan in order. Just like with a traditional bank, having your paperwork in order will make it more likely that you’ll get the money you seek. Make sure you have the following ready to go:

  • Create a business plan for your flip so that your potential investor knows exactly how you plan to work the flip from beginning to end.
  • Map out a clear estimation of your renovation costs. A clear scope of work can let your investors know that you’re clear on where every penny is going.
  • Build up your connections list. This will help you stay in contact with investors who have the same goals as you.

Your Flip and Fix Loan Options

Here’s a definitive list of your flip and fix loan options.

Friends and family

Your personal network of friends and family can be an excellent resource, especially if you have the backup docs mentioned above and start off relatively small. Once you complete your first successful flip, more people will be inclined to invest with you.

Financing Partner

A great financing partner who understands the market can provide funding or help you find funding through their network. This is why networking is so key.

Home Equity Line of Credit

This works best for flippers who are homeowners and who have at least 20 percent equity in their property. You only take out the money as needed, so check with your bank and see how much you qualify for.

Take Money Out of Your 401(k

This is a great option for a young flipper who has time to take out the money, use it and put it back before retirement. With 401(k) plans, you can take out up to 50 percent of your account balance or $50,000, whichever is lower.

Personal Loan

If you have great credit, you can take out a personal loan. Rates are often as low as five percent for people with great scores, and payments can be spread out anywhere between three and seven years. These loans usually top out at $50,000, so combine them with other financing options.

Seller Financing

This loan type is when you take a loan from the seller to buy the home. You’d then fix up the house, flip it, pay the sale proceeds to the seller minus the difference between the final sale price and the loan price. That difference will go to you.

Hard Money Lender

This type of lender may help out less qualified buyers. They get them the money, but they also charge very high interest rates. These loans are extremely short-term loans with terms of a year. They’re intended to get you through the fix, flip and sale of the home.

Hard Money Loans

Need funding for your next project?

Complete Our Hard Money Loan Application
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