To proactively take advantage of the spring and summer seasonal market, real estate investors need to have the money they need on hand to beat out the competition. Because the spring and summer seasons see a dramatic uptick in the number of transactions, that means there are droves of frantic people shopping for a home—which equates to more competition acquiring promising renovation properties at an ideal price point. That’s where First Equity Funding comes into play.
The experienced professionals here can tailor-fit a fix-and-flip loan that fits all of your needs in a fraction of the time it takes conventional lenders. We provide fix-and-flip loans starting at 7.99%. Here’s a quick overview of the benefits private money loans have for fix-and-flip projects during this busy time of year:
Time is Money
A fix-and-flip loan is essentially a customizable short-term bridge loan used to acquire a property with the intent to sell it for a profit after the rehabilitation projects are completed. They’re the ideal solution when you have to close fast and require a higher-than-usual leverage.
At First Equity, our fix-and-flip loans close quickly and come with personalized attention to detail that gives you the peace-of-mind that you will have the funding you need to close that property and diversify your investment portfolio.
Whether you’re in the market for single family, multi-family or mixed use properties for your upcoming fix-and-flip project, we can work with you to build a plan that fits your needs. Our fix and flip loans are a great way to start leveraging your existing capital and generate more income with the ability to close and flip multiple properties simultaneously—which means a healthier bottom line for you at the end of the day.
Obtaining a loan approval from a conventional bank can be a lengthy and frustrating process-especially for real estate investors. Fix and flip investors are usually buying distressed properties and require expedited financing. Bank financing typically has extensive application procedures which can be too time-intensive for these types of transactions. Banks also heavily weigh the buyer’s credit history and may not have the pertinent knowledge to properly credit the investor’s expertise and experience in turning a profit from fix and flip deals.
Whether you have a less than stellar credit score or need funding in a hurry, First Equity is here to provide solutions. You can start by getting a 24-hour Proof of Funds by filling out the application on our website OR try our fix-and-flip calculator to determine the cost of your next project!