Fix & Flip Loans
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.
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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:
- Funding In 24 Hours
- Loan To Value Up To 90%
- 3-60 Months Interest Only
- Starting at just 7.99%*
- Short Sale OK
- Bad Credit OK
- Bankruptcy OK
- Foreclosure OK
Once you secure a hard money loan in Arizona, there are three ways to turn your project into a success. First of all, you need keep renovation costs at or below budget. The less you spend on renovations, the more money you stand to make. Secondly, your renovations must maximize the market value of the property. Finally, sell the property as quickly as you can.
Contact Hard Money Lenders Arizona anytime, to speak with one of our very helpful and highly knowledgeable loan specialists about your property investment funding in Arizona
If Michael can't get the deal done, it's not getting done!
The speed at which Michael’s team worked at allowed us to close the deal in less than 3 weeks.
Ready to make the next deal, let’s go!
I highly recommend everyone to work with Michael and his team and insist on working with Laura, Michael’s loan processor’ whom without her diligence, our loan probably would’ve been delayed.
Together they are an amazing team.
Michael's assistant Lara made sure everything got done right, and on time. She is great to work with, and responded quickly to any question I had. Together they make a great team and I look forward to working with them in the future.
My wife and I were recently visiting Scottsdale for her birthday and had decided to look at a few homes. Nothing immediate, just getting ideas for the future. Then on the last day we run into the perfect new construction home, only problem is we weren't prepared to buy. Most of our long-term funding was tied up in our home back in Oregon and to complicate things further, the seller had another cash offer on the table and a ridiculously fast 3 week closing requirement to secure the property.
So, we took a leap of faith and called Hard Money Lenders with Barrett Financial and got Michael on the phone. That quickly took us from an impossible deal to closing on our new home in record time. Michael clearly communicated all the terms and numbers up front. And being such a rapid deal with a large amount of escrow on the line, he personally checked in with us daily.
We have worked with a lot of great people in the real estate and mortgage industries for over 30 years and have to say that Michael is one of the top professionals we have ever met. A true expert in mortgage and bridge loans / private lending. Even better, it was clear to us every day that Michael truly cares about his clients. Best phone call we could have ever made.
Thank you, Michael and Lara, for helping us make this North Scottsdale dream a reality!
Saleh.
Steven
Our Fix and Flip Loan Program
We understand that it takes money to rehab a house. A traditional fix and flip loan only covers most of the cost of the property. But what about the rehab? At Hard Money Lenders Arizona, our loans are different: they are based on the total project cost. In fact we can lend up to 90% of the purchase and renovation costs. In addition, our terms are flexible and we offer loans for properties starting at $25,000. There is no prepay penalty and absolutely no limit on the number of properties you can purchase with a fix and flip loan from Hard Money Lenders Arizona.
Our Fix and Flip Loans are the Answer when Traditional Programs say No or are not Available
Typically, the properties that fall into the fix and flip sector do not meet FHA guidelines. What this means is that federal agencies will not provide loans for these types of properties. That’s where we come in. Usually we offer same day qualification and can get your funds to you within 24 hours.
If you’re looking to take advantage of the great fix and flip market in Arizona we can help!