Searching for a reasonable lender to fund a fix and flip.
There are two of us applying, one of us has never flipped a property but does have multiple buy and holds, the other partner has done 40-50 deals 5-8 years ago.
The deal:
looking at an off-market deal on the beach in Pinellas County, Fl
2 story home on the water
3,800 sq ft.
5 bed 6 bath
Price: 1.5 mill
ARV: 3.1 mill
renovation costs will run 400k
I can put up to 200k down for purchasing.
Looking for 100% renovation coverage with 6-9 months to sell.
Willing to pay points/put up property as collateral etc.
Lender · Springfield, MO · Member since 2023 · 652 posts · 315 votes
1y
Just shot you a DM
Usually any lender is going to want to get a snapshot of any potential licensure as well as your FICO, but should be plenty of options.
I guess the follow up would be moving on it ASAP, how long do you have to close? Often times that designation can immediately eliminate some lenders based on ability to close (despite their willingness to charge you *RUSH fees, etc.)
Usually any lender is going to want to get a snapshot of any potential licensure as well as your FICO, but should be plenty of options.
I guess the follow up would be moving on it ASAP, how long do you have to close? Often times that designation can immediately eliminate some lenders based on ability to close (despite their willingness to charge you *RUSH fees, etc.)
Virginia Beach, VA 23452 · Member since 2024 · 88 posts · 14 votes
1y
Christian,
Have you had any lenders talk to you about the property in Pinellas County, Fl yet? I'd love to discuss financing with you. If you have time, we can talk later today or over the weekend. Let me know what time is good for you and a good phone number to reach you at. I look forward to meeting you.
Real Estate Consultant · Pembroke Pines, FL · Member since 2016 · 61 posts · 6 votes
1y
Hi Christian,
Your Pinellas County beachfront project sounds like a great opportunity, and we work with lenders who can provide fix & flip financing with 100% of rehab budget with 4-day draws and terms designed for quick exits.
Here’s how it works:
✅ Up to 92.5% LTC & 75% LTV
✅ Rates as low as 8.45%
✅ Loan amounts up to $5MM
✅ 13, 19 & 24-month term options
With $200K down and a strong ARV, they can structure a solution that lets you close fast and focus on execution. Let's connect ASAP and get the ball rolling. Feel free to DM me or drop your contact info.