Residential/MultiFamily 100% FIX/FLIP

deflationIf you’re an investor with proven experience in fixing and flipping residential or small multifamily properties we think this type of financing may be of interest to you. Check out the general criteria below, after which we encourage you to reach out to us with any questions or if you wish to discuss your potential projects.

We have several Fix/Flip financing options, each with its own terms, however the borrower’s qualifying criteria applies to both. DISCLAIMER: If you have a project in a market our lender is not familiar with your LTV on the first loan or two would be lowered until a working history is established.

Up to 100% Financing of the Purchase Price (Investor pays for ALL rehab, closing, and holding costs)

  • Monthly payments of 14-16% I.O.
  • 5 points – paid by the borrower at closing
  • 1 year loan (the property must be rehabbed and sold within one year)
  • PPP: Guaranteed 6 payments
  • Loan amount: $200K – $2MM

Up to 100% Financing of the Purchase Price (Investor pays for PART of the rehab, closing, and holding costs)

  • Monthly payments of 16-18% I.O.
  • 5 points – paid by the borrower at closing
  • 1 year loan (the property must be rehabbed and sold within one year)
  • PPP: Guaranteed 6 payments
  • Loan amount: $200K – $2MM

100% Financing (includes acquisition, rehab cost, soft/hard costs)

  • No monthly payments
  • 5 points – added to the total acquisition cost
  • 1 year loan (the property must be rehabbed and sold within one year)
  • Minimum profits 24% annual net returns with a 50/50 split
  • Upper Middle Class or Luxury properties (no entry level properties) – min. $250K total acquisition but no more than $2MM (exceptions may be granted on a case by case)
  • Borrower would have to pay upfront costs (such as Earnest Money, any permits or licensing needed, etc.) – these are generally reimbursed to him/her at closing

Borrower/Flipper qualifying criteria

  • Must have a track history of flipping similar properties in the local area for at least the past 2 years
  • Must have financial muscle (borrower must provide a current PFS)
  • A Credit Report and background check will be done, to give the lender a level of comfort on how responsible the borrower is in his/her day-to-day affairs (to insure he’s not delinquent on current debt, that there are no liens or judgments placed by subcontractors for unpaid work, etc.)

Click here to see the documents needed for a loan submission. I encourage you to reach out to me to determine if your project meets the criteria.

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