Hi All, I'm in need or a reliable tool to use when underwriting short term fix & flip loans.

Right now we're shopping around for loans outside of traditional lenders. 

You're going to lose your loan from what I understand.

It’s a bonus if the bank offering the HELOC also handles BRRR loans — they’ll be more flexible and accommodating when it’s time to pay off the HELOC with a new loan!

We were able to get into it with a 5% down primary residence loan.

We financed this deal using a residential VA Loan.

Quote from @Chris Seveney: Over the past quarter, I have seen around $1B in defaulted fix and flip loans - many of these from new lenders since 2020 and more of a "tech platform".As we all know, the intersection of tech and real estate investing has brought incredible innovation, especially in hard money lending.

It depends on the LTV, type of loan, whether it is rate and term or cash out refi, and some other details, but that's not crazy.

What about the second and third year when you no longer have the labor-intensive initial setup?

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.