Flipping houses has now become popular, and fix-and-flip loans are on the rise. Every day, it is creating new opportunities for brokers. We are not claiming that house flipping is a cakewalk.  The reality is that flipping houses are a serious task that requires a lot of funds to take advantage of market opportunities. Different costs include the down payment on the property, renovation costs, insurance, permits and fees, and many more.

On the other hand, it can be a lucrative way to make money (thousands of dollar) in a short time — all you need to have a right amount of cash in hand to get started. If you don’t have enough capital to buy a home and pay for renovations, you need to do proper research to explore your financing options with fix and flip loans.

What to Expect?

So you are excited about the chances of making a profit by renovating a home to look beautiful before selling it to a buyer. Chances are you even have a good idea of which house you’re interested in flipping but unable to get the required funding. No worries! We at Hard Money Loans, hold expertise in providing all types of hard money loans for your every small to large requirements.

We are here to help you with the cost related to the fix and flip and other activities that include:

  • Creating a business plan for your flip so that your investor knows how you are planning your flip from beginning to end
  • We help you map out a precise estimation of your renovation costs that can let your investors know that you’re aware of every penny spent
  • We help you build up your connections list to help you stay in contact with investors who have the same goals as you

Speed is one of the essential aspects of house flipping businesses. Fix and Flip loan provides a quick and easy way to access substantial funding. Here is what you should expect in the Fix and Flip business:

  • The typical length of loan term: Six to 12 months
  • Interest rate: 12% to 21 %( It might vary from one lender to another)
  • Fee type: Between 3% and 6% of the loan amount
  • Required documentation: Little, or sometimes none
  • Loan amount: Usually between 60% and 75% of the property’s value

Fix and flip loans offer a long list of advantages as compared to traditional loans. Since the duration of a good flip is 30-60 days, a conventional loan might impact your return on investment to a large extent. Fix, and Flip Investors looking for capital to purchase, renovate and sell properties often turn to our Fix and Flip program to get fix-and-flip loans even to people who lack a consistent source of income to qualify for a traditional loan from the bank.  We are amongst the most reliable lender for the deal of Fix and Flip Loan in Houston. Do reach us at +1 (310) 666-8884 or carlo@hardmoneyloans.com in case of any query.