Fix & Flip Loans
A Fix & Flip loan is a real estate investment which a person(s) buys a house and most likely remodels or rehabs the house to sell and make a profit off the sale. This type of investment has been very popular the past 10 years for real estate investors. Loan sizes start out at $75,000 going up to $2.5 million. Remodeling and cost of construction can be included in the loan. New Construction Lines of Credit can also be applied for ground-up construction for developers and for real estate investors. Loans start out at $150,000. If you are a beginner, that is fine. Beginning Fix & Flippers can be financed.
If you are experienced and have several Fix & Flips you can actually start a loan at $50,000. Interest rates vary. Three factors determine the rate; Location, Personal Credit and Experience. Rates generally start out at 7.5% and go to 12%. Most Fix & Flip loans are 12 to 18 months and can be extended. When the house sells the remaining balance will be paid off.