About Fix and Flip (Bridge) Loans
Whether you’re a house flipping expert or this is your first real estate investment project, Lend Some Money provides private, hard money capital for quickly so you never miss out on a great opportunity. You’re only charged interest on the outstanding balance, not the rehab holdback, so you can maximize your resources without paying for funds you aren’t using.
Additional info about Fix and Flip (Bridge) Loans
✓ Rates as low as 10.25%
✓ Close in little as 7 days
✓ Minimum 620 FICO requirement
✓ Borrow up to 90% of purchase price, 100% of rehab costs, 75% of ARV
✓ Dedicated Loan Officer
FAQs for Fix and Flip (Bridge) Loans
Getting a loan can be confusing sometimes. Between underwriting requirements, loan rates and terms, it can be hard to figure out but we're here to help you! Here are answers to some very common questions we get...
You Have Questions? We have Answers!
How to Pick the Right Contractor
Picking the right contractors to help with a rehab fix and flip project is crucial. Follow some of these guidelines to help your project be successful.
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There's no doubt that working with a contractor can make or break your renovation project or new construction build. But if you take the time to find the right person for the job, those risks can be minimized. Here are Five steps to finding the right contractor:
1) Get referrals: The best way to find a good contractor is through referrals from people you trust. Ask your friends, family, or colleagues if they have any recommendations. Once you have a few names, do some research on each one.
2) Check their credentials: Make sure the contractor you're considering is properly licensed and insured. You can check this information online or by calling your local chamber of commerce.
3) Read reviews: Another good way to learn about a contractor is to read online reviews. See what past clients have to say about their experience.
4) Get a written estimate: When you've narrowed down your choices, get a written estimate from each contractor. Be sure to compare not just the price, but also the scope of work and payment terms. Some may require partial payment up front, and ideally the best way to protect yourself is to ensure that payment is remitted as work completes.
5) Check references of past clients: A contractor should happily provide references from past clients, and depending on the project those individuals are excited to show off their recently completed project. They'll be able to give you unfiltered feedback and what could have gone better with the project.
By following these steps, you can find a good contractor that you can trust to do a great job on your project.