Fix-and-flip investing has become a popular strategy for real estate investors looking to purchase distressed properties, renovate them, and sell them at a profit. However, securing financing for these projects can be difficult, as traditional banks often refuse to lend on properties that require significant repairs. Hard money loans are specifically designed to fund fix-and-flip projects, providing capital not only for the property purchase but also for renovation costs. These loans are based on the after-repair value (ARV) of the property, meaning investors can secure funding based on what the property will be worth post-renovation rather than its current condition. This allows investors to take on larger renovation projects and maximize their profits.
One of the key benefits of using a hard money loan for fix-and-flip projects is the speed of funding. In a competitive real estate market, investors need to move quickly to secure distressed properties before other buyers. With traditional financing, delays in approval and underwriting can cause investors to lose out on valuable opportunities. Hard money loans, on the other hand, can be approved in days, allowing investors to acquire properties faster. Green Everest works closely with fix-and-flip investors to ensure they have access to the funds they need, enabling them to complete renovations efficiently and turn a profit within a short timeframe.
wanted to get into fix and flip and get some guidance. thx for the help
what a great source of financing, would consider if i do a fix and flip
sometimes i feel the best part is the actual underwriting for these deals. gives me the confidence to go ahead with the property
The speed of approval can’t be overstated. I’ve had deals fall through before just waiting on a bank. Hard money lets you act fast.
People underestimate how tough it is to get funding for distressed properties. Hard money fills that gap perfectly for flippers.