FINALLY, YOU NOW CAN FOCUS ON WHAT YOU DO BEST, RUNNING YOUR BUSINESS, NOT CHASING MONEY!
We are now providing 100% financing for 1-4 Family Fix N Flip's in all 50 states.
100% Purchase 100% Rehab We Fund It.
No Minimum Price. Max $750
Closing Costs & Insurance We Cover It
Points & Interests Payments Are Rolled Into The Loan
No Monthly Payments. (Deferred until closed flip)
Underwriting Fee Waived
Free Proof of Funds Direct Lender Letter
Purchase & Rehab Can Not Exceed More Than 70% ARV
Referrals Paid
No Upfront Fee To Apply
100% Financing For Everyone!
Interested?
How does 100% Financing work?
- Experience
- Number Of Deals Financed With The Lender
- Profitability Of The Deal.
I have never done a deal before? Can I qualify?
Yes, your interest rates & points will be higher along with your profit share % but you can qualify. Initial Joint Venture Profit Share starts at 55% for you and escalates the more deals you do up to 85% for you! Initial declining interest Rate can be anywhere from 12-13% plus points which can all be rolled into the loan.
I'm an experienced investor. Will my rates be lower?
Yes ABSOLUTELY! For 100% finance, your rates will be anywhere between 10-11%, and declining points,5, 4, 3, as low as 2 points and escalating your profit share up to 85%.
What does 100% Finance actually include?
- Closing costs (Insurance, title, etc) Purchase, & Construction
- Turnkey in-house contractors for newer investors. In the states of NJ, MD, DC, TX, SC, IL, MA, PA.
More contractors in other states will be added.
Do I have to pay monthly interest payments?
- Based on our profitability calculation we will project the term of the loan based on the size of rehab and DOM for the comps in the area. We will come up with a conservative estimate for the # of months the project will take. From there we will calculate the number of payments for those months and include that amount in the loan. We will not ever have monthly payments. If the total cost is over 70% of ARV, then on a case by case with our approval, the borrower just has to come to closing with the difference of the overage on the ARV %.
Why would I ever pay such those rates? I can just go to another lender.
-Simple, no other lender will provide 100% financing without having skin in the game. This is a full 100% loan for a project. Our preferred lender is interested in being partners than you are being a borrower. Also, being an inexperienced or seasoned investor, you are going to want someone on your side who's # 1 goal is to complete the flip in a timely manner helping every step of the way. When a lender is 100% invested in a deal their interest becomes much greater, so you will not be thrown into the water without a life jacket. The more flips you complete the lower the rate is. I wouldn't want to complete my first flip without the help of my J.V. Lender.
If you have an immediate deal CALL NOW 7 DAYS 772-24LOANS for Free Submission Form. I will also be taking phone calls to help broker your 100% joint venture financing. If you're interested reply via email [email protected] & we will set up a time. My services do not cost you any extra. All I ask is that you use me as your sole broker for your transactions with our preferred 100% joint venture lender.
100% J.V. Program Cheat Sheet
1. Interest is to be charged on the purchase and rehab amount from closing through payoff.
2. Rehab draws are done in arrears as work is completed. We do not release any monies at closing for the rehab. We do not reimburse for just materials. There are no min/max number of draws needed for each project, however the amount of draws need to reasonable compared to the size of the rehab budget being performed. For example, a rehab budget of $10,000 would not support having 10 draws. Refer to your specific term sheet for the costs around each draw.
3. Once we do 2-3 deals with the same contractor we would consider cutting a draw check at closing to help you get the project started.
4. Points & Interest are always rolled into the loan.
5. We only lends to entity borrowers. We do not lend to personal individuals.
6. On your first project and after you have been approved and accepted our term sheet the $700 fee which includes appraisal, background check cannot be rolled into the loan as it covers our cost to evaluate the deal. On the 2nd. deal forward we will not have to do credit or background and the appraisal fee will be only $625.
7. Earnest money is not something we will fund upon signing a contract. We will reimburse the earnest money back to the borrower at closing.
8. One year hazard insurance is also paid in full by us at closing.
9. If the numbers are too tight for a deal we want the borrower to obtain a price reduction rather than reducing his rehab costs or increasing his ARV estimate
10. Closing on the first deal is typically around 3 weeks and about 2 weeks after the first deal.
11. Refinances can be arranged as well under this program if the borrower can refinance out within 6-9 months. We would not do any refinance that takes longer than 9 months. The profit share still applies here but is just included in the debt payoff, so it doesn’t look like cash out to the refinancing bank as that would limit the loan amount.
12. Only 2 things we are looking for on credit and background are open tax liens and financial fraud criminal history.
13. The borrower will create a new entity prior to closing that we will use to lend to for this specific program. We are not a member of that entity but do take an entity pledge of shares in case something goes wrong.
