What are Fix and Flip Loans?
Fix and flip loans are typically utilized to renovate properties in disrepair. As real estate investors purchase a distressed or foreclosed property, fixer upper loans fund investors who rehab damages and “flip” the property from a disreputable eyesore to a profitable asset. And they allow borrowers to maintain a strong cash position. Financing for flipping houses through flip loans provides a substantial ROI for investors through:
- Minimizing renovation expenses;
- Maximizing property market value;
- Quick turnover time.
Since foreclosed or distressed properties typically enter the market as a low cost acquisition and are bought by seasoned real estate investors quickly, it can be difficult for anyone but local, capital rich investors to find and close deals on these valuable opportunities. The advantage of loans for flipping houses in this circumstance is significant. Because cash on hand is an important leverage in closing negotiations, Intrust Funding, a hard money lender in Western Washington, provides hard money fix and flip loans to real estate investors. Consequently, the playing field has been leveled.
Flipping houses with bad credit or no credit? No problem. As fix and flip lenders, we underwrite your real estate investment based on its After Repair Value (ARV).