What Are YOUR Funding Options: The Power of Fix and Flip Loans
When you enter the world of fixer uppers and other value-add properties, you’ll need good funding options. Otherwise, your positive cash flow might take a hard hit.
So, what’s one of the things you can do to prepare for battle—er, your real estate investment?
Easy! Take a few seconds to learn about your loan options. And if you’re going to tackle a fix and flip, then you’ll want a fix and flip loan (aka, a hard money loan).
Now, contrary to belief, these types of loans will help boost your cash flow and profits.
Yes, boost. Not obliterate!
So, what is a fix and flip loan? Well, here are 3 keys facts.
Fix and flip loans are:
- A special type of loan usually secured by a real asset—aka, real estate. The money for these loans is typically provided by private investors or companies.
- Paid off fast! Unlike normal bank loans (that are paid off over 15-30 years), fix and flip loans are meant to be short-term. Like, 3 to 9 months. You can pay them off quicker or slower, but this is the typical range.
- Perfect for real estate investors who want to buy properties FAST. Fix and flip loans usually close in days, not weeks. They’re ideal for buying discounted properties (non-MLS)s. Think wholesalers and other under-market deals.
Basically, fix and flips loans are here to save the day when you need funding FAST for a project that’s going to make you a lot of money.
So, what are you waiting for? When you’re looking for good funding options, we’re here to help guide you. Because we’re eager to set you on a path that helps you make the kind of money you need to live the life you want!