If You Are Looking For A Fix And Flip Loans Atlanta Has You Covered
Fix and Flip Loans in Atlanta GA for Serious Real Estate Investors
Neal Business Funding is a private money lender that offers short-term mortgages to real estate investors in all of Georgia. We offer private money loans for a property purchase, rehab or new construction of non-owner occupied (investment) properties.
-up to 75% ARV
-Up to 90% Financing for Purchase Amount
GET A FREE NO-OBLIGATION RATE QUOTE TODAY 315-699-4703
Hav you been considering a fix and flip loan? If so, you may be wondering what this type of loan actually entails and how you can make a good choice when it comes to a lender? Indeed, if you are looking for a fix and flip loan Atlanta has you covered but you still need to know what you are looking for! Allow us to explain what fix and flip loans entail, the risk involved on both sides of the table and how you can go about getting a loan from a good lender.
What Is A Fix And Flip Loan Atlanta?
Fix and flip loans are counted as real estate loans and the borrower tends to apply for the funds based on the property’s value. Usually, fix and flip loans come with a high-interest rate. Why is this the case? Well, often the borrow is buying a property which is very distressed and worse for wear, this property will often not meet the right guidelines to be able to secure traditional finding. With this in mind, it is little wonder that a fix and flip loan will come with an interest rate which is higher than standard loans.
The purpose of the purchase from the borrower’s point of view is to buy the property as an investment. They will carry out all of the necessary repairs and improvements and hence make the property a more attractive purchase for people who are looking for a new home. Of course, the work they carry out will also increase the value of the property, often rather dramatically. Once the ‘fix’ part of the process has been carried out the buyer will move on to the ‘flip’ stage, in other words, the property will be listed, sold and a profit will be made.
What Are The Risks Involved For Each Party?
Certainly, when a buyer is looking for fix and flip loan Atlanta has plenty of options, however, it is crucial to understand the risks both to the buyer and the lender.
The lender understands that the general state of the property and necessary repair work needed to make it investable is a major risk factor. To cover this they will often need to offer a high-interest rate. On the side of the borrower, failing to fully understand and grasp all of the repair work needed could put them on a slippery slope. Hence a full and accurate action plan is required before any paperwork is signed off on.
What Does Neal Funding Offer In Terms Of Fix And Flip Loans?
If you find yourself in a situation that you need a fix and flip loan Atlanta provides many choices and Neal Funding is one that is very worthy of your consideration. Here are a few of the elements that can make this a good choice.
– A wide range of funding options starting at $500,000 and stretching up to $50 million.
– Interest rates 8% to 12%.
– Options both for revolving and non-revolving.
– Various terms on hard money loans to choose from between 12 months and 24 months.
– Various properties considered including townhouses, single-family homes and multifamily properties.
– The option for fast closing in as little as 18 days if required.
– LTV of up to 75%.
What Is Your Next Step?
If you are seriously considering a fix and flip loan it is time to analyze your situation to consider whether such a loan is a viable and realistic option for you. If you feel that you have the right set of circumstances to be approved for such a loan it is time to make contact with the right people to set the wheels in motion. Whether you choose to make contact with Neal Funding or wish to check out various options which are available to you, it is crucial to have all of your information at hand and be as prepared and knowledgeable as possible for your venture. This will go a long way in helping the lender to see that you are an attractive and reliable borrower who they could work well with not only for this current project but for many more to come.
If you need financing to flip a house in Atlanta GA, call the pros at Neal Business Funding. Apply now at NEALFUNDING.COM or call us at 315-699-4703