Starting a real estate investing business can be a great way to make money and achieve financial success. For many people planning to start a real estate investing business, one of the popular ways they consider is flipping houses. This involves securing fix and flip loans, purchasing distressed property, and doing the necessary repairs to ensure you make a profit on the project.
Do you want fix and flip loan to finance your next investment? Want to find a reliable fix and flip lender to provide the funding you need? You can get top notch assistance from a reputable team of professionals.
When looking into financing for real estate investment properties one of the biggest challenges for investors is to obtain funds for fix and flip projects. It is easiest to obtain funding for fixing and flipping real estate properties if you have a track record in the industry. But if you are a beginner and don’t have a track record, you still can obtain fix and flip loans if you know where to look.
What is a Fix and Flip Loan?
For real estate investors, quick access to funding is incredibly important. Fix and flip loans provide the funding that real estate investors need to purchase and repair a property.
Fix and Flip loans help investors purchase a distressed real estate property, renovate it and sell it for a profit. It is crucial to know what repairs to perform and how much to spend getting the house fixed.
Typical repairs done are: replacing a roof, adding in a new kitchen, adding bedrooms as needed, finishing a basement or doing anything renovations that will improve the value of the house.
Most banks and other traditional lenders won’t approve the loans to purchase nor repair damaged or distressed properties. Fix and flip lenders specialize in providing funding for fix and flip deals.
Your Credit Doesn’t Matter
Fix and flip loans are typically financed by hard money or private money lenders. These lenders will approve a loan based on an asset. To obtain a loan, you’ll be required to provide a collateral such as a piece of property.
What hard money and private money lenders will do is evaluate the property you want to purchase. They’ll inquire about your purchase price and the repairs that need to be performed. If they can determine that you can purchase a house, renovate it and quickly sell it for a profit, they will provide the funding.
The lending decision is not based on your credit history or credit score – it’s based on the condition of the asset you provide as collateral. This means that you don’t have to have good credit or show job history in order to obtain funding for the project.
Another advantage to using this type of loan to fix a property is, it’s fast and easy to get funding. Unlike conventional loans which can take up to a month or longer, fix and flip loans can be approved quickly. In addition to taking a long time, conventional loans usually involve tedious application process. With a fix and flip loan, it is possible to get approved and obtain the funding in just a few days rather than having to wait several months.
High Interest Rates
There is a drawback to using these loans to repair a property. Because these are short-term loans, they tend to carry high interest rates. Their interest rates are higher than the interest rates for conventional loans.
When you come across a great deal you need to act quickly and take advantage of the opportunity before your competition does. That’s a great advantage of this loan for investment purposes.
Reliable Fix And Flip Professionals
Getting funding for real estate transactions can be overwhelming and seem complicated at times. There are several process involved and you need a knowledgeable and attentive professionals on your side. It is important to consult a team who understands the industry and who listens and understands your needs. It is crucial to work closely with professionals who have been providing outstanding service in the real estate industry.
Contact Us Immediately
If you want to take your business to the next level, get in touch with us right away. We have a great reputation due to our excellent service. We know what it takes to achieve success in real estate investing and we have the skills and resources to advise and guide you in obtaining the funding you need.
Our team of fix and flip loans is available and is a perfect option for any investor who is serious about getting financing without hassles. We have a proven track record in the industry and we’ll get to work immediately to get you the money you need. Contact us immediately to discuss your project.