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Updated over 11 years ago on . Most recent reply

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Anthony Dadlani
  • Investor
  • New York City, NY
269
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100% Financing Avail for Rehabbers/Flippers

Anthony Dadlani
  • Investor
  • New York City, NY
Posted

We are looking to partner with real estate professionals for rehab and flip projects.

More info here http://www.aplusrealestateintl.com/submit-property

Most Popular Reply

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Curt Smith
#5 Mobile Home Park Investing Contributor
  • Rental Property Investor
  • Clarkston, GA
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Curt Smith
#5 Mobile Home Park Investing Contributor
  • Rental Property Investor
  • Clarkston, GA
Replied

Hi Anthony, I've seen equity split lenders before. They had a 6 month max length of deal or the PM would _loose the property_. IE the quit claim deed was signed at the beginning of the project and the PM would loose all their work etc.

Ok I found on their website:
- Ability to extend up to a year ( if property unsold in first 6 mos)

It's certainly going to cost you if you don't have this sale closed in 6 months.

To new folks, flip and fix is one of the most risky real estate strategies especially as it gets to be mid summer and the buyer swoon happens in the Aug / Sept timeframe, through winter to pick back up in March. Interest rates are ticking up, you could get stuck with a property you can't sell. Go to the fix and flip forums and ask.

6 months goes buy quickly and this includes the time the buyer's bank needs to close which can be 60 days, or it falls through and you have to find another buyer. I've heard of quick fix and flips taking 9 months to get closed. Just offering cautionary views.

But I'm bookmarking this lenders site myself. :)

curt

  • Curt Smith
  • [email protected]
  • 678-948-7151
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