Researchers have found that house flippers renovated more than 200,000 homes in 2017, with an average profit of nearly $70,000 per property. That’s a lot of houses—and a lot of money.
Despite the popularity of house flipping, the biggest barrier to entry and success in this space is cash. Without enough money, you can’t purchase the home, pay for renovations, or find a buyer for the property when the time comes to sell.
Fix and flip loans are used by short-term real estate investors to purchase and renovate a property before flipping it for a profit or refinancing it after rehab. This type of financing for flipping houses offers investors fast closings for properties in any condition.
Finance of America has a fantastic set of offerings in this category…..
Not sure whether you need the Fix & Flip Single Loan or the Fix & Flip Exposure Limit?
- The Fix & Flip Single Loan is designed for investors who need funding to flip a single investment property.
- The Fix & Flip Exposure Limit is a line of credit offered to experienced investors who plan to acquire and/or renovate multiple properties.
- All Fix & Flip Exposure Limits allow investors to close quickly.
- Both Fix & Flip Single Loan and Fix & Flip Exposure Limit offer the option of rehab funding, if needed.
Our commercial offerings are quite unique. These products are in-house from origination to funding. Controlling the financing from origination to funding allows our investors to reliably plan the timing for their projects. Timing is always important in the real estate market, especially in construction and rehab.
For experienced investors we establish an exposure limit and for new investors we start our first project together with a single mortgage. Contact me for more details.