As per the real estate data and analytics, the average return on investment for house flippers grew from 20 % in 2011 to 35 % in 2015. Fix and flips investment has become very popular a few years ago as soon as the housing market recovered, and they are a profitable business today. More like the traditional home-buying process, people looking to flip properties need capital for the purchase price of the home, property taxes, utilities, and insurance costs until the property is sold. However, flippers also need money to rehab the property and prepare it for sale rapidly.

Most fix and flip investors need a loan t cover these expenses until you are born with a silver spoon or already a milliner. Gone are the days when anyone that could sign their name could get a housing loan. After the lending standards tightened up in 2019, it has become difficult to borrow the required funding. Additionally, it has become riskier and challenging to qualify for the financing needed to close a property investment deal.

How to Get the Fix and Flip Loan for First-Time Investors?

Until you are a seasoned professional with outstanding credit score, getting a fix and flip loans for the first time can be different. This is true when it comes to investing in house flipping business. Since traditional banks prefer to lend long-term investments is a short-term endeavor, the difficulty level is twice as compared to other hard money loans. However, our hard money loan program is designed for everyone regardless of their credit score and annual income. We have helped several old and new business owners to get the funding they needed. With hard money loans, you can apply online and get a funding estimate in no time. This is not the benefit of traditional bank loans as the process is usually accomplished in-person and might take weeks or even months.

Experienced Flippers:

The majority of the experienced flippers usually have access to more establish and settles brand of banks. This is a massive benefit for the investors to get the desired funding on better terms and lower interest rates. Interest rates are often lower with large banks, and funding can be unlimited if you can demonstrate that you have the financial capacity to pay back a considerable amount of loans. However, traditional investments and online mortgages can work well for the experience of well-established flippers and those looking to rehab older buildings and rent them out rather than selling them.

With Hard Money loans, your credit score might be like a random number on a piece of paper. Our fix and flip loan program are tailored towards the requirement of our clients. Also, our rates on Fix and Flip Loan in Dallas are comparatively lower, and you can get the desired funding in lesser time with minimum documentation. You can reach us now at +1 (310) 666-8884 or carlo@hardmoneyloans.com to inquire more about our services.