Regardless if you are a seasoned real estate investor, a savvy house-flipper or an entrepreneur in need of your first real estate loan, my lender partner can help you finance your vision.
They offer asset-based financing that rivals hard money. And because time is money, their loan processing is fast and streamlined so you’re on your way to realizing your vision quickly. These loans are perfect for short-term, long-term or fix-and-flip transactions.
Their flexible investment property and small commercial loans are available for:
30-year Investor Loans with No Balloon.
Consider locking in the historically low rates with no balloon payments.
The loan is designed for investors seeking a simple financing solution for purchase or refinances, with the flexibility to remain in the loan for up to 30 years.
This loan eliminates the balloon payment associated with private money loans, along with the rate hikes of adjustable-rate mortgages.
Because the FlexPerm loan is asset-based, it’s perfect for independent, buy-and-hold real estate investors and small business owners who are tough to qualify.
Great for qualifying W-2, self-employed investors and small business owners.
Based on the property value and its revenue-generating potential.
Best alternative to hard money loans.
Available as a 3-year-fixed or 30-year-fixed loan, each amortized over 30 years.
Loans for Fix-and-Flip Investors.
Fast and flexible fix-and-flip loans for real estate investors
Renovations can be hard work. Arranging the right financing solution should be simple and quick.
In as little as nine days, you can obtain up to $2 million in funding for your investment acquisition.
Their ARV loan is designed for independent real estate investors who are often tough to qualify. Based on the property’s “as repaired value” (ARV), it’s the best short-term, interest-only solution for acquiring and improving property value for fix-and-flip investors.
• Allows borrowers to finance improvements.
• Great for borrowers who need a quick close.
• An interest-only 1-year term provides lower monthly payments.
• A higher LTV than hard money lenders.
• Available for Investor 1-4 properties (SFR, condo and 2-4 units).
Even if you have a bankruptcy, you can still get financed after 24 months after the discharge date.
Quick and Easy Qualification for Investors and Small Business Owners With Credit Issues
Investing in residential and commercial properties is a long-term commitment so why should your options be limited? If you’re looking for an easy and quick qualification for your investment property loan, and you have credit issues and high equity, I can help.
Whether it’s a purchase or refinance, this loan offers easy credit requirements for your residential investment and small commercial properties.
• Great for borrowers with a recent bankruptcy or notice of default.
• No seasoning of ownership required.
• Derogatory mortgage history is OK.
• Available as a 3-year-fixed or 30-year-fixed loan, each amortized over 30 years.
Hard Money & Private Funds Available for Investors
Loans from $75,000 Not many lenders arrange loans as small as $50,000. We will!
Fix and Flip We lend up to 90% of the purchase price and 100% of the renovation budget. In addition, we don’t charge interest payments on the rehab dollars until it is drawn.
Competitive rates and fees You came to the right place if you are looking for a private or institutional hard money!
Bail Out Loans An equity-based program. If we can keep it under 65% LTV, we can bail you out in 7-10 days. (Only CA and TX)
Commercial, Land, Agricultural and Specialty Properties Commercial, apartments, land, Wearhouse, partially completed construction projects, industrial, automotive and many other types of properties are those we lend on.
2nd and 3rd Mortgages We arrange second and third mortgages every month. (Only CA, TX)
Construction Completion/Development Project Got construction project? We have multiple ways to structure your file, so you can complete your project and get it sold!
Business/Merchant Funding Do you need working capital/payroll/expansion for your business? We can fund in 5-7 days. To qualify, all we require is the business to be established for at least 6 months and provide 6 months business and credit card-merchant processing statements. Long Term Rental Loan Programs We offer 5,7,10 and 30-year fixed term, starting at 5.875% rate and can leverage up to 85% LTV
Lender will fund up to 90% of purchase and 100% of rehab with no previous experience up to 75% ARV.
Below are the parameters for the financing program:
90% of Purchase
100% of Rehab
12 month term
Up to 75% ARV and 75% AIV
Min loan of $75,000 / Max loan of $5,000,000
Entity Borrowers Only
525 min Credit Score
NO HARD Credit Pull
NO Experience Required
Option for interest being charged only on funded balance
Option for NO PERSONAL GUARANTEE
East Coast Hard Money Loans
We fund 100% of construction and acquisition up to 65% of the ARV. We can approve the same day and close in 24hrs. Normally we are about 1.167% per month for a 12 month note. The money is 6 points at the table. cash out refi investors and buy/hold/refi
Maryland, Philadelphia, PA, New Jersey, Virginia, Delaware, Washington, DC
In September 2017, I received a referral from a Real Estate Agent colleague in San Diego, his friend in Cleveland Ohio needed funding for a property that was purchased for cash back in July 2017 for $80,000. They purchased the property to be used for a special needs daycare center (special use)
While using personal funds to finance a total interior remodel, they demo/gutted the inside of the property, with this being their first project, they were not prepared for the unexpected expenses that occured.
Their rehab was north of $60,000.
They purchased the property for cash, so the equity should available, right?
In simple terms, yes – but because of these factors the marketability of a potential loan became more difficult:
Location of the asset
Asset type (special use) not just a regular tenant rental, it’s residential property being used as a business.
Value of Asset (As-Is value was only $75K) most fix/flip hard money loan minimums are $150k
Owner/Borrower has 650 Fico, no previous experience flipping homes or land-lording.
This was a long-term hold, but lenders who offer long-term financing at reasonable rates will only loan to stable assets, so she needed a two-step solution.
Gutting the property destroyed the chances of simply cash-out refinancing because the lender immediately required an appraisal inspection!
Getting a lender to approve the refinance knowing the borrower has no previous history of completing rehabs.
Getting a lender to approve the loan knowing the borrower has no reserves! They underestimated their rehab, and needed the funds to complete the renovation. How will they repay the loan?
Developing an exit strategy for the fix/flip loan included adding a co-signor, who also needed to be added to the business LLC.
We applied in the name of the LLC with a very well-known lender, the rate was higher than we preferred, but the points were reasonable and they provided the requested cash-out to complete the rehab and reserve 12 months’ worth of interest payments so she didn’t have to worry about that. Everything was going smoothly, we had title complete, ARV appraisal came in at $160K!
The following days we had a term sheet with $15,000 cash to close as a condition? This included points, closing costs and reserves requirement! The proposed loan amount was $80,000, so I convinced her that we needed to raise the funds from somewhere!
Her father stepped up earlier in the process to qualify for the exit loan as a co-borrower, he has a 700+ fico score. To qualify for the 7.5% rate with 30 yr. fixed or 7/1 ARM with 30-day refi seasoning, you need to have a solid 660+ Fico. I offered to help them raise unsecured funding to fund their deposit to their business account to show reserves, they weren’t happy about paying the fees or the unexpected panic to perform, but reluctantly applied for and received $90k+ in personal unsecured funding from 6 different vendors.
We were ready to close the loan, when the lender suddenly backed out, saying that the DSCR was just short of qualifying?! They didn’t have their act together, it was a gross error from the underwriting team, and my account rep couldn’t get the exception approved.
It was heartbreaking. Three weeks were invested. Now it’s mid-October, in Ohio they are facing the bitter Midwest snowy winter, and she can’t afford to slow down on the rehab..
She was blessed to have the credit cards we raised to take care of expenses, however, because the cards came in her dad’s name, it wasn’t easy to convince him to let the cards go! Her parents feared that she would rack up unsecured debt that she couldn’t pay down. Ultimately destroying her father’s credit.
My team and funding partner located her a fix and flip loan, they agreed to take the rehab bid we put together, ARV appraisal, title work and loan package, it was already packaged and should’ve been a slam-dunk!
She used the credit card she received to pay a small application fee, and they announced a closing date. Unfortunately, it took about 3 weeks longer to get it done, meanwhile, honestly I’m getting nervous – my client called me with her husband on the line and they were concerned as well.
I reassured her that I knew these guys would close & that her case was very solid!
She explained the situation with the credit cards and her inability to use them.
I coached her on how to explain the importance of intent. The whole reason we are applying for multiple forms of funding is to complete the rehab at any cost!
This is your future business location. And until you complete the rehab, you are losing time & money.
Use the unsecured funds to pay your contractors and buy material, when this refi goes through, pay the lines of credit off! But have faith.
She complained that she felt bad bringing her parents into it and that she wanted to stop altogether! She was very discouraged.
I reminded her why she started! You are trying to provide a better lifestyle for your family and it requires sacrifice and your dad stepped up to help his little girl!
Don’t fail him by quitting in the middle of your plan! Continue to execute.
And she did.
Over the next couple weeks waiting in anticipation she racked up some hefty invoices from her contractor and was prepared to pay them via her unsecured credit when BOOM suddenly “Clear to Close” came across our emails, with loan docs and estimated HUD for review and signing to be completed a few days later.
The process taught her a lot about financing, she learned how to qualify for fix/flip and buy/hold loans, as well as unsecured funding.
She had her father add her as an authorized user on all of the trade lines, so now she’ll get her own cards for easy access, she’ll build her credit score through positive history (piggy-backing) and paying all of the lines down again!
She received $90k unsecured financing in 3 weeks, then $75,000 3-4 weeks later @ 12% for 12 months, she received a lump sum at the table, and she has submitted a couple draws already for reimbursement. You complete the work – submit an invoice after you (take before /after pictures), then the 3rd party company reviews, approves and wires the money to your business account in 24-48 hrs.
She now has 6 trade lines that added $90k to her ratios, and if she keeps utilization down under 30%-40% it’ll raise her score to 700+ also with another mortgage trade line, she would be soon staring at an 800+ fico score!
Because we added her dad to the LLC, I’m focused next on helping them create a strong business profile with multiple business lines of credit of $200k-$500k over the next 12 months. These lines will allow them 100% access to borrowing down on the lines without affecting their business credit rating! She can open another daycare center by early 2019, or flip some properties in the area (if they choose).
Finally, since she’s been working on the property the whole time, she estimates being complete with the Refi by mid-January, immediately applying for the refinance into the 30-yr. fixed. The lender has already reviewed her property details, personal credit and financials and pre-approved them, additionally since the 1st payment isn’t due until January for the current loan, she has a great chance to only make 1-2 payments at 12%.
In the end, my team and I were successful at providing a couple rounds of funding for a well-deserved client. We have a long-term solution in place that she can self-sustain and scale up if preferred.
At Fix and Flippers, we approach each potential deal on a case-by-case basis. It’s helpful to remember that we are very active in the market and possess resources that may not be advertised or previously mentioned.
We help clients with credit repair, credit enhancements, traditional and non-traditional funding, both secured and unsecured. We pair up investors to structure successful joint venture partnerships.
We prefer an ongoing working relationship with our clients to offer advice, consulting and resources.
We welcome Brokers and Facilitators to partner with us. You will be protected.