A fix-and-flip loan could be exactly what you need to enhance your sales from house flipping. Shepherd's Finance will tailor a loan package to your specific requirements in terms of both cash flow and real estate. Get in touch with us today to find out how we can help you increase the number of homes you flip and the success of your house-flipping business.
Making money through buying and selling homes is gaining popularity as a means of increasing one's income. You spot a rundown house down the street, buy it, renovate it, and then sell it for a huge profit.
Many established builders and investors today also see house flipping as a viable source of income, especially in this age of freelance and contract labour. Reasons for this are readily apparent. House flipping is lucrative, but it demands a sizable initial investment. You have to spend money on the property and the work and materials required to make it marketable to potential buyers. We're here because this fast becomes expensive.
Program's Advantages and Qualities
Applying for a fix and flip loan with Shepherd's Finance provides you with access to capital and the expertise of a team of finance experts.
The procedure moves along quickly when you work with us because we know you're eager to start flipping. Unlike many banks, we don't need you to show us your tax returns or other financial documents to get a loan.
If you submit a project to us, we'll give you the green light as soon as feasible The sooner you begin flipping, the sooner you increase your income, expertise, and the size of your portfolio. Understanding this, we provide our assistance. We provide no-down-payment loans to people who want to remodel and sell pre-existing houses. As a result, whether you want to slap on a fresh coat of paint and lay down some carpet or go all out and gut the place, you may find a credit programme that suits your needs.
We'll not only process your loan application fast, but we won't add unnecessary costs to it. The funds you provide will be used solely for your project. All the loan fees we request are included in the loan amount, and our disbursements are swift and easy.
Our Conditions and Terms
Before we begin working with you to develop a personalised financing strategy, some prerequisites must be met. Please let us know whether you meet the requirements, and we'll have a representative contact you shortly to discuss a fix-and-flip loan.
Prerequisites for Borrowers
If you claim to have the expertise, show us your portfolio. We're curious about your background in the real estate industry and what makes you qualified to flip this house successfully, whether you're an investor, remodeler, seasoned flipper, or new construction builder.
After verifying your physical experience, we will ask you to view your credentials before approving your fix and flip financing. Before we move forward with a construction project, we ensure that the contractors have all the required permits. Finally, we expect to see testimonials from satisfied previous employers or customers. Credit histories that meet minimum standards must also be provided as proof.
The Needs of the Project
Once we've established that you meet our loan requirements, we'll verify that the property in question satisfies those same standards. We do not provide financing for condo renovations or sales. The home must be either a detached single-family dwelling or a townhouse. In addition, this home should fall inside your competence level.
We can only give you the money to remodel a 3,500-square-foot home if you've done work on 1,300-square-foot properties that required minimum repair. When making construction loans, we prioritise reliability.
Water Damage Coverage
We also need a Lender's Title Policy and a survey of the property's boundaries. In addition to requiring regular effort once the loan is disbursed, we insist on it. Payments for your project's covered expenses, such as supplies and labour, will be dispersed via direct deposit.
We back it 100%. Shepherd's Finance offers individualised attention to each client who applies for a fix and flips a loan through them. The loan procedure can be confusing, but we have friendly, knowledgeable staff members here to help. Contact us by phone or email with any questions, feedback, or concerns outside of scheduled meetings.
One of our strengths is our capacity to establish lasting bonds with our patrons. Clients who have faith in us often hire us for other projects, and we enjoy those partnerships. You will always be treated as more than a number at Shepherd's Finance. You will be respected and valued as the respected expert that you are.
