Have you ever wondered how “Flip or Flop” stars got their start? Many of them did it with fix and flip loans, also known as rehab loans. These are short-term loans given to real estate investors who what to renovate a property and then sell it at a profit. When done right, flippers stand to make a lot of money.
Because of the reality TV show “Flip or Flop” on HGTV, almost everyone knows the process of flipping a house but many are not aware of how a fix and flip loan works and what it offers. For starters, this kind of loan is used only for single family residences. You can’t get a rehab loan to fix up and resell an apartment building, for example. Another thing about this type of loan is that it’s time sensitive. Having worked with numerous real estate investors in Arizona, we understand the need for securing capital as soon as possible. That’s why we offer funding in 24 hours as well as these other perks: