Our sweet spot on loans in the fix & flip market is between $75,000 – $1,000,000
Our main focus is on single and multi-family residential properties consisting of 2-4 family houses. We do not lend on vacant land or development of land consisting of variances, and town approvals of subdivisions.
Depending on the strength of the borrower or the type of property, we have unique programs where this can be arranged.
- Leaking underground oil tanks
- Cracked or sagging foundations
- Fire damage, any structural damage
- Flood zone areas
- Next to gas stations, auto body shops, commercial or industrial areas
- Raw land
- Steep topography
- Co-ops, primary residences, second homes, mobile homes, trailer homes
- Subdivisions
- Rezoning
- Undesirable neighborhoods, streets, and neighbors
No, we do not give second position or subordinate loans.
Mostly no, as this is not our sweet spot in lending. This depends on the borrower’s experience, our relationship, type of new construction, market conditions and loan to value, and is decided on a case-by-case basis.
Yes we are direct lenders and NOT brokers, as we use our company funds along with our investing partners and accredited investors. Your loan is not outsourced to a third-party servicing company as we service our loans directly.
Your submission package, if complete, will be reviewed and analyzed within 48 hours. Then you can get a pre-approval based on your application and information of the project. After that, we will perform our full due diligence. Depending on the complexity we will usually give our response in 2-3 days.
Our fees start at 1% of the loan amount depending upon the LTV, condition and work involved on the project. We also may include a project management fee depending on the experience of the borrower. Many newer and mid-level investors find this service very valuable, as they have added assistance to the project.
No, as we are truly an asset-based lending program. We look at the project and LTV along with our proprietary program for traditionally non-qualified borrowers.
First, you will fill out our basic information package for pre-approval. Then you will submit our “Submission Package” detailing the project and loan requested.
Depending on the project type, condition, amount of work, and the experience and financial strength of the borrower, interest starts at around 8.99%.
Our unique proprietary programs for beginners and mid-level borrowers afford slightly higher rates but with the following benefits:
- NO monthly payments by the borrowers
- NO 3 month reserves of capital
- NO credit checks
- NO personal guarantees
- NO upfront closing costs brought to closing
Mostly yes, but with our unique proprietary programs and assistance, we lend to beginners as well as the less experienced investors. Bring a qualified project and we will assist you in getting the project completed and provide the needed funds.
They all need to be licensed and approved by us. With our proprietary programs, we can assist as well in getting your rehab completed by offering our competent contractors and our project management services.