- Quick Close options 1-2 weeks possible.
- Funds for Improvements – Cashout for Investments OK!
- Business Purpose use for Funds OK.
- Bank Turndowns are OK
- Bankruptcy is OK
- No Docs
- 12-24 months No-Prepay
- Owner Occupied is OK – up to 5 yrs Fixed
- Long-term hold loans for good credit & low rates (4%-7%)
- Luxury Loans to $15,000,000
- Interest reserves & Closing costs can be included in the loan if you have the equity for Fix and Flip only.
- Refinance and Purchase loans Available
- No Credit, No Doc, No Verified income for Foreign Nationals, living abroad is OK
- No Tax Returns, Non-Warrantable Condo’s are OK
- 30 yr fixed options are available
- Stated Loans Available
- No Source / Seasoning needed for loan approval
- Cross Collateral structure funding with existing properties in portfolio
- Current Renovation in Progress is OK.
- Construction to Permanent is OK
- Multi-Family, Commercial loans OK
- Nationwide Lending, Case-by-Case Decisions based on complete scenario!
- Up to 95% LTV
- 1 month Bank Statement Program
- 12 or 24 month Bank Statement Program
- VOE Only Program
- 1099 Only Program
- P&L Only Program
- Asset Depletion Program
- Credit Scores Down to 500
- Foreclosure Bailout
- No Income Verification up to 80%
- No Income Verification for cash out up to 75%
- NO DSCR Required
- Ficos down to 600
- 5+ Unit Apartment Bldgs.
- Mixed Use Properties
- Loans held in LLC and Corps.
Inquire Below Today!
Happy New Year!
This year one of my goals is to become an even larger resource for the Fix and Flip & Investor Community. After 16 years of service in this industry, we connect investors to lenders and private funding programs nationwide.
After reviewing these new loan offers and working with dozens of lenders, I compiled this list of lenders to refer to interested parties.
I hope you enjoy!
What an amazing year for private funding, hard money, commercial funding, equity funding, business funding, unsecured funding; all kinds of capital for many purposes.
Lenders are stepping up to make loans in ravaged areas in Florida & Texas, as well as nationwide in major urban areas.
Fix and Flippers works with key lending partners to provide the best loan terms and flexible structures so investors have multiple options for leveraging their hard-earned capital.
The climate of private lending has changed because competition has greatly increased, also the influx of 1st-time flippers hungry to get a piece of the pie has produced a perfect storm: lots of inexperienced & unqualified applicants to pre-screen and underwrite – it’s a very expensive operation if you have your underwriters, processors, and assistants burning through hours of documents if they don’t lead to real closes with ROI for the investors involved & for the brokers who bring the business.
This has resulted in more restrictive requirements for approval such as Fico score minimums – from my experience, they question why a successful businessperson who is worthy of a risk of $100k-$1M wouldn’t be able to pay even $1000 to repair and clean up their credit? Also, please don’t mention 2008 or the past economic events – they don’t want to hear that! It’s 2017.. Bottom line – without 650+ fico scores expect high-interest rates (9-12%) and lower LTV’s due to you being a credit risk (80%-85% LTV max)
What mitigates your credit score IF you have a great explanation? (like a recent credit event within the past 2 months caused your score to swan-dive)
Having lots of experience (recent experience) again, don’t mention 2008 or prior…and most lenders may look the other way and consider you a better risk.
What if you don’t have recent experience and your score is not 650+? Then I’d be prepared to bring 15% down-payment, and it doesn’t necessarily need to be seasoned or sourced, but it has to be documented..so have a statement to prove you have it.
Also, I have a great contact that I use for credit repair and authorized user trade lines (I know the account holders) – just ask me for those referrals!
What if you have no experience, and have no down-payment, but have good credit 680+ fico? I’d suggest you apply for my unsecured-credit program to raise up to $250,000 unsecured credit lines/cards in 1-2 weeks to create a 100% financing scenario!
If you are a great candidate – have completed multiple flips and/or rental purchase/acquisitions within the past 24 months, 650+ fico, and 3-6 months of interest reserves in your bank account, I can roll out the red carpet for you in most cases: 90% LTC or 90% purchase, 100% of rehab, luxury spec builds/construction to $2M-$50M, commercial refinances with cash-out or purchase 75%-80%, even small loans from $50k.
Niche Loans: Gap Loans – These are 2nd TD loans that we make behind our 1st TD’s, never others. We will gap great candidates with lots of deal flow that have experience, capital, average to good credit and the deal must be in an urban area and pencil at or under 65% of ARV (after-repaired-value) Lots of our lenders make loans nationwide.
Commercial Financing- 3yr/8yr/ fixed, special pricing this month! Hotel, Apartment, Industrial, Self Storage, Solar Projects, Multi-Family, Office, Warehouse, NNN properties, Shopping Center, Assisted Living, Residential portfolios, Construction Loans, Mobile home Parks, Resort properties. Bridge loans, SBA
We can make QUICK (3-5 day loans) against Free/Clear properties up to 50% LTV, max loan is $50k, the minimum is $5,000!
EMD funding – If you need Earnest Money Deposit funding – Not a loan, but allows you to use investor money for 30 days in escrow protected by an addendum added to the contract. Complete your deal, pay the funds back!
With my 16th year in real estate, I’d consider myself a massive resource center, and its hard to turn those contacts into a commodity, I hope points & rates won’t keep the best candidates from reaching out! Most of the time, I only give the best deals to people whom I have done business with (broke bread) once we feed each other, I know we have a mutually beneficial relationship.
Let’s finish the year strong and build some alliances!
I have set up a secure site you can apply NOW! www.hardlendr.com
Greg@FixandFlippers.com – 323-632-3279
We are a high-end construction rehab team consisting of an experienced General Contractor of 20+ years, Real Estate Agent with 10 years experience & Marketing Executive with 15 years experience.
We are in the business of locating, privately funding (through trust deed lenders) luxury rehab projects throughout the Los Angeles area. We are well experienced with all phases of rehab and construction including basic kitchen/bathroom remodels, swimming pools, windows, smooth finish stucco, landscaping and complete demo/scrape/ground-up construction.
We are always in the market for off-market fix/flip candidates that we can either add square footage, repurpose, re-zone, sub-divide or improve for a profit. We’ll look at anything that has upside.
If you are looking for a dependable, fair contractor that’s licensed, bonded & insured to manage your project, or manage your contractors & sub-contractors, contact us! We can also provide the initial SOW (Scope of Work) to your lender and be your experienced contractor to help you qualify for ARV loans!
Right now reinforcing & replacing the fittings in your home can be important if you have an older home, since we live in an earthquake State! We can help with this!
We can provide one-on-one mentoring for 1st-time flippers, women are welcome to contact us!
If you’re interested in becoming a gap partner or trust deed investor, let me know, we constantly have opportunities to fund. We can keep your funds moving.
Here are some projects completed and shows our work..
9222 Bartley Ave Santa Fe Springs, CA 90670
Purchased on 3/21 for $350K,
Sold 9/16 for $500k after investing $50K rehab.
653 Tularosa Dr. Silver Lake, CA 90026
Purchased 3/15/15 for $625K, Invested $250K rehab
Sold for $1,350,000 on Apr 12, 2017
4083 Sea View Ave Los Angeles, CA 90065
Purchased 8/24/16 for $1,150,000 With a rehab budget of $300,000. Currently in construction with 60 days remaining.
Almost Finished- 60 days left
Must be in a hot market.
Florida, Texas, Ohio, Illinois, California, or New York other markets considered but again must be HOT!!
We are aggressive: Commercial Multi-Family only, or 1-4 Unit Fix and Flip.
I will only work with well qualified investors that have experience. You must cover the closing costs, have a 660 FICO, and 6 Months reserves, plus verified experience.
Ground Up – OK, Fix and Flip OK, Repositioning OK. Major Rehab OK.
$1,000,000 and up only.
$10,000,000 Max on the first deal.
Increase Your Credit Score!
Authorized User Tradelines
$999 per tradeline or $899 per tradeline for 3+ tradelines
FREE CREDIT ANALYSIS!
We’ll help you determine if you need tradelines, and which ones would raise your credit scores!
- These are Revolving Lines
- Tradelines between $5,000 – $40,000
- Increase Your Credit Scores 30-50 pts in 60-90 days
- Lines Stay Reporting for 45 to 180 days, we see 90 days of reporting on average
- Most clients get 2-4 tradelines, most mortgages are looking for 3+ tradelines for pre-approval
- We prefer our clients to be goal oriented, the service provides short-term credit score enhancement.
- You will ideally be seeking credit within 45 days of the lines hitting their file
- We will only add lines to Social Security Numbers, no CPN’s,or any other alternative identification number
- Colored copy of your SS Card, front & back
- Colored copy of your State issued ID or DL, front & back
- Recent copy of your 3 Bureau Credit Report (You can pull one @ CreditCheckTotal.com)
Lines will appear on your file within 45 days
GET STARTED TODAY!
- Up to $200,000 in Revolving Lines of Credit with only a one-time success fee
- Fund in 7-10 Business Days
- No Income Documentation required
- No Verification of Employment
- 100% Unsecured
- No home or assets required
- We have “Equifax Only” funding Option (Often the (3) credit scores can differ greatly, if the Equifax score is higher, then the emphasis is placed on that one.
- No business plan necessary
- 680 or below in some cases
- Revolving balances below 60% of credit limit
- At least 4 “open” & “seasoned” primary tradelines
- No more than 4 inquiries per bureau last 90 days
- Prior BK must be over 5 years
- NO Upfront Fees
- Back end success fee AFTER FUNDING 15%
- Direct Funding Platform
This is the only info needed:
- First & Last Name:
- Email Address
- What is your current credit monitoring service?
- Credit Monitoring Login Username (may be given over phone):
- Credit Monitoring Login Password (may be given over phone)
- Last four digits of SS#
- (may be given over phone)
- Equifax Credit Score
- Transunion Credit Score
- Experian Credit Score
- TOTAL LOAN AMOUNT DESIRED:
- Primary Phone Number
- Military Affiliation
- Are you currently working with other funding sources at this time??
Contact Me Direct: Greg@FixandFlippers.com or Inquire Below!
Why Residential Construction is Ripe for On-Demand Disruption
With a record year for the on-demand industry in 2016, the big prediction for 2017 is that on-demand companies will expand to new industries.
That’s happening now in residential construction. For too long residential construction has been plagued with going over budget, not meeting deadlines and plainly losing money primarily due to lack of communication.
Most contractors do not use project management software to keep their jobs in-line.
95% of all residential remodel projects end up in frustration. Homeowners go into a project excited about their contractor only to soon be in the dark about what is going on.
The new on-demand startup “Project Buddy” http://www.projectbuddyservices.com is the 1st of its kind and planning to revolutionize the industry: Creating completely transparent transactions between homeowners and contractors. Simply put, Project Buddy helps organize projects.
“After years of consulting in the construction industry I found that almost every job had a point where the client thought they were being cheated, it was almost always due to a simple lack of communication. Construction remodel projects are very organic and change daily. I started Project Buddy to help both Contractor and client stay up-to-date on a weekly basis.”
Project Buddy, from PGN Design Group, works with a cloud-based construction software that all parties have access to with their smartphone, tablet or computer. Project Buddy finally makes it easy for homeowners to follow the progress of their construction project from anywhere and makes it easy for contractors to keep their clients updated on day-to-day progress of their projects. It works with 5 easy steps.
- Upload project information to Project Buddy cloud-based software
- Take daily photos of the project
- Create daily work logs
- Contact all contractors, subs and architects for scheduling purposes
- Create an “end-of-week” report for the project
So who’s doing the actual work? Numerous “buddies” manage jobs in the areas that they live in. They can work as much or as little as they want. Think of it as the Uber for Project Managers.
The site will work on weekly contracts so that there is no big commitment from homeowners or buddies. For contractors, there’s no need to hire and train full-time employees only to have the burden of their salaries on the books when it gets slow.
At the end of each week, clients have the ability to either “opt-in” if they like the service or “opt-out” and we’ll see you on the next one!
Project Buddy will have the ability to do one or all of their jobs. The company is poised to disrupt the residential construction industry by helping smaller companies with growth, and larger companies with quality control. The price is $500/week for most projects, cheaper than the cost of a laborer sweeping up the site!
Why Use Them?
- Lost Time = Lost Money
- Cloud-based Software = Transparency, 24/7 access from any device.
- Organize contractor = Get Job Done!
- Weekly contracts = No Big Commitment
- One low rate for any size project
Project Buddy has launched in Los Angeles and the San Francisco Bay area with expansion to other major cities in the U.S. later in the year.
- Contractors/Developers – Instead of carrying a payroll employee as a superintendent, we can replace that cost, and we have no problem with working for 1 week..
- Real Estate Agents – You know all of the Wholesalers, Flippers and Homeowners doing remodels, refer our service and receive a $500 referral for each.
- Architects – You work with homeowners and flippers too, with our service, you can monitor the project remotely and not get left out of the circle. Refer our service and receive a $500 referral for each.
- Hard Money Lenders – We can act as a 3rd party service provider that can be financed and used as a kind of “insurance policy” Lenders can require their borrowers to use Project Buddy, and they‘ll always know what’s going on with the project! Two words – Accountability Partner. Protect their loans. Less foreclosures will increase bottom-line.
- Owner Builders – You want someone to babysit the work-site, and you don’t want the job! We’ll help week-to-week, until you don’t need us anymore! You can see all the progress on your smartphone or preferred device, and read the notes left by the Buddy. Perfect Communication!
Book us for one job, for one week and you will quickly see how easy and smooth your job/s will run.
Find out more about getting a project managed today! www.projectbuddyservices.com
Or Call Greg Direct – 858-386-0949
Current Status of the Property –
Lot has been cleared and Ready to go!
Address: 1270 Emerald St. San Diego 92109 – https://www.redfin.com/CA/San-Diego/1270-Emerald-St-92109/home/5135489
Land Comp: 1220 Emerald St. $900,500 sold 10/19/16 https://www.redfin.com/CA/San-Diego/1220-Emerald-St-92109/home/5135519
Finished Comp: several in the area between 1.7M-1.8M
Cost to Build – $550,000
The permit needs to be paid for and pulled by April, otherwise it will expire. There are no issues. Seller just want to sell. However, if he doesn’t find a buyer, he will pull the permit and start building it.
They have already paid for everything that was needed to get the coastal permit approved, ie: architectural, structural, soil test, surveying, water drainage study as well as utility relocation, temp pole, and demo. This is a shovel ready project.
Coastal permit has been paid for and issued. Building permit has been fully signed off and approved. We just have to pay the school fees and inspection fees and pull the permit. These fees amount to about $8000.00
At this time seller doesn’t want to J.V. and prefers to sell fast with cash.
I’m Direct to the Seller and this is an off-market sale! Contact me Direct. Greg@FixandFlippers.com | 858-386-0949