Fix and Flip

Fix and Fllp Loans

Fix and flip loans, also known as “hard money rehab loans”, are a type of short-term, high-interest loan that is used to finance the purchase and renovation of a property that will be sold soon after. They are typically provided by private investors or companies, rather than traditional banks or financial institutions.

Fix and flip loans are secured by the property being financed, and are often used by real estate investors who are looking to quickly purchase and renovate a property for resale. They can be used for both residential and commercial properties.

The terms of fix and flip loans can vary, but they are typically short-term, with a term of 6-12 months. The interest rates on these loans are higher than traditional loans, and the lender may also charge additional fees such as points or origination fees.

To qualify for a fix and flip loan, borrowers generally need to have a solid business plan that outlines their strategy for buying, renovating, and selling the property. They also need to demonstrate that they have the experience, knowledge and financial resources to complete the project.

Fix and flip loans are a high-risk, high-reward type of financing and it’s important to consider the potential return on investment, as well as the cost of the loan, before proceeding with this type of financing.

The Better Choice lenders help clients with their business financing and capital needs. IF you have questions or just want to see if we can help – Please use the button below to contact one of our associates.