Fix & Flip Financing
While it may not be suitable for all real estate investors, those who can effectively ‘fix and flip’ a commercial property (buy an older or damaged building, repair it, and resell it for a higher price) may frequently reap substantial financial benefits. While the process of fix and flip may be difficult, it can also be gratifying. Investors, on the other hand, need the appropriate money to begin this process.
The search for a dependable fix-and-flip lender is a tough one for many real estate investors. Even lenders that claim to get you authorized may take an excessive amount of time to provide you the funds you need to complete a transaction.
Fortunately, we provide both individual repair and flip loans and fix and flip lines of credit for more active, experienced investors who intend to fix and flip several homes at the same time.
Attorneys Funding Group’s aim is to provide you an answer as soon as possible so you can start working on your next project. We don’t want you to lose out on another fantastic offer because you’re waiting for a response from a lender.
What Are the Benefits of Fix and Flip Loans?
Fix and flip loans are beneficial for many reasons. Because they are relatively short-term loans, they provide investors with possibilities that are not available with conventional house loans. Since real estate acts as collateral, fix and flip loans are secured investments. In the event of default, the lender has the right to seize the collateral. Another advantage of fix and flip loans is that they have short terms, usually 12 to 24 months, and there are no penalties for paying off the loan early. Finally, because of their minimal stock market connection, fix and flip loans are a good way to diversify conventional portfolios.
What Types of Properties are Eligible for Fix and Flip Loans?
Fix and flip loans may be used to buy almost any property, including single-family houses, two to four-unit buildings, condominiums, and townhomes. If you’re uncertain, we’d be glad to assist you in evaluating if the property you’re considering is suitable for a fix and flip loan.
We Offer 6- and 12-Month Loans
Attorneys Funding Group provides loans with terms ranging from six to twelve months in length. Investors can expect minimal fees on six-month loans with loan-to-value ratios of up to 75% on the property’s purchase price. If you need a loan to cover both your purchase and rehab expenses, we offer loan options that are specially intended for this purpose and can cover up to 70% of the loan-to-value ratio.
Most Loans Have a 24-Hour Turnaround
We understand how frustrating it may be to be waiting for a response while a fantastic home deal is slipping away. As a result, our simple three-step procedure is intended to provide you with a response in less than 24 hours. In addition, all of our fix-and-flip loans are asset-based, which means they do not need a traditional credit check or proof of income to be approved. This shortens the amount of time it takes for us to evaluate your loan application and get you an answer.
Your Loan is Approved – Now What?
A letter of funding will be sent to you after you have been accepted for a loan with Attorneys Funding Group. This is your pass to trustee sales, auctions, and other events.
To prevent people from shutting other investors out of the market, many businesses ask for proof of funding before you can even make an offer on a property you’re interested in. Sellers want to know that after you’ve made your offer, you’re serious about purchasing, and your letter of approval from us demonstrates that you have what it takes to complete the purchase.
Is the Loan Process Complicated?
No. We feel justified in our easy fix and flip lending at Attorneys Funding Group. We help make the loan process go more smoothly by working with your title firm for closing and doing a thorough property inspection to finalize your terms.
Why You Should Choose Attorneys Funding Group
Attorneys Funding Group is your go-to source for fix-and-flip funding. Whether you’re a first-time house flipper or a seasoned pro, we can help you with investor rehab loans, bridge loans, and hard money loans. We provide quick and effective private money loans and can assist you in determining which loan option is ideal for you. To learn more or to get a free estimate, contact us today.