The numbers have been released by the National Association of Realtors for the Month of March, sales have increased to $5.19M homes sold! This is in comparison to $4.70M home sales sold in 2014. Also home prices have risen 8% from last year.
One of the many reasons they suggest caused this spike is a pent-up demand in product from January and February.
Also talks of the Fed raising the interest rates as early as June have people who are sitting on the fence deciding to make their purchases now, rather than risk missing their opportunity of historically low rates.
This means that Flippers are very busy keeping up with the demand and FSBO sellers are getting their homes ready for the upcoming summer season and buyers will be driving their favorite streets starting next month in search of their dream homes nationwide.
On the lending end, I’m seeing:
- Special Programs for Experienced & Capitalized Investors, this group receives preferred rates, points, low splits or no splits
- 100% Financing Up to 75% ARV on Fix/Flip deals (CA) (Experienced Only)
- 90% LTV + 100% rehab (CA,AZ,CO,MI,NV,NC,OR,TN,GA,VA,WA,WV) Rates low as 8%
- Plenty of Commercial Financing Nationwide, (Multi-Family is easier to obtain.)
- 80% of rehab + 80% of acquisition
Those with no experience can always bring properties my way that they have under contract that they want to assign or JV with another investor, this can equal to instant assignment fees and the ability to “Buy into a Relationship” or contribute “Skin in the Game” this can be as low as 10%-25%. After some successful transactions, you can earn the trust and confidence of private lenders I work with, then they start to allow preferred rates, points, and may even go higher on their max loan amounts for you,
Unfortunately coming to me with no experience, no funds or deals to assign will automatically disqualify you. I simply have no programs for you at this time.
The investors with 10+ verifiable completed deals within recent memory can easily obtain refinances, acquisition+rehab funds for Fix and Flips, Luxury ARV Loans to $6M, Bridge Loans, Loans for Buy/Hold Rentals, Transactional Funding and Commercial Loans.
If you want to assign your wholesale property to a cash buyer, for an assignment fee, please respond below.
If you are experienced and looking to make new lender relationships and have a possible purchase or refinance scenario, respond below and I’ll get some quotes for you.