Fix & Flip Loans
Our Number One Goal
Getting the CLEAR to CLOSE!
FIX & FLIP LOANS WITH 100% PURCHASE AND 100% REHAB FINANCED
$50K to $1MM
4,8, and 12-month Terms
620 Minimum Credit Score
$250 One-Time Application Fee
2% Lender Origination Fee
$2500 Processing Fee
Ground Up Options Available
FULL DOC LOAN
(Tax Returns, Paystubs, Bank Statements, Etc.)
Available in 37 States!
HOW TO DETERMINE THE BEST MARKET FOR FLIPPING
Homeownership vs. Renter
Areas with high
homeownership (versus rentals) is evidence of purchasing power. States with low homeownership rates make the chances of flipping homes for a living less probable.
Number of Realtors
States with more realtors have a better chance of selling properties fast. If only a few realtors are there, that is a clear sign of a market that is not conducive to flipping.
The higher the median household income is in any given state, the higher the chances for you to sell the house.
Average Remodeling Costs
You don't want to overspend on remodeling, especially with a low average sales prices.
Higher vs. Lower
You can generate more profit in markets where the average home price is high and equates to higher demand.
Average List & Sell Price
The best markets for flipping have a reasonable ratio of average listing and average selling prices.
Median Monthly Housing Costs
Families prefer to invest where the housing costs (insurance payments, utilities, property taxes, HOA fees, and household maintenance) aren't through the roof. Additionally, you, as a flipper, don't want high housing costs while waiting to sell the home.
Average Time to Sell the Home
The longer the home stays on the market, the more money you lose. So, the locations with quick sell times rank higher.
How Much Can You Make Flipping Houses?
According to RealtyTrac's U.S. Home Flipping Report, the amount of money you can make from flipping houses largely depends on how many houses you can flip — not in finding a single house that will net you a huge profit. One of the most consistent house-flipping tips you’ll see is to search for houses where you can make a clear 10% to 15% profit on the sale after paying for repairs, realtor fees, title fees, and financing. Most experienced flippers hope to make around $25,000 per flip. What they won’t do is buy into a house that will only give them a profit of $10,000, which could be eaten up if there are unexpected expenses during the repair process.
What to Watch Out For
Unexpected repairs and holding the house for too long. An experienced flipper will have a complete flip done within 90 days, freeing up their money for the next investment. If it takes longer than 90 days to get the house sold, you’re likely losing money each day. Also, you should always estimate your repair costs on the high side by adding a 15% to 20% buffer to your expected expenses.
Find banked-owned/foreclosure "REO" houses, because the banks have to continue to pay insurance, taxes, and maintenance on the property. Banks tend to be very motivated to sell their inventory even if it's at a deep discount. HUD houses, which are foreclosed homes with an FHA-backed mortgages are also a source of bargain properties. HUD publishes all its houses on a website, which makes it easy for investors to look for potential deals.
Maximize Your Profits With These Repairs
Buy Properties with A Lot of Equity. Be Realistic About Your Renovation Costs. Get Advice From Knowledgeable and Experienced Flippers.