We are not bank employees, following scripted marketing campaigns, trying to sell you an “in-house” loan products that’s not tailored to your needs. agents and support staff on your team.
The first part of every successful fix and flip is finding the right real estate property. That’s why we’ve created this easy, 5-point guide to help you find the “sweet spot” deal, which can give you the best chance at making money in real estate, while safeguarding your investment.
Our Network of Private Money Lenders are only interested in funding projects that will give you the best opportunity at realizing success. Therefore our criteria is centered around these 5 points:
1. Property Type (Residential 1-4 units)
2. Sale Price (Ultimate sale price does not exceed FHA max)
3. Size of House (2800 sq ft max)
4. Property Features (5 bedrooms / 3 baths max per unit
5. Size of Property (1/2 acre max)
*** Although our funding requirements are not based on individual's credit score, a high score (680+) and a down payment (20% or more) significantly better your chances of approval and supersedes 3, 4 & 5.
Homes above the FHA cap are statistically more likely to experience drastic fluctuations in value and can be more susceptible to local and overall market depreciation. Homes in the 5-point realm tend to be more resilient to these influences.
This is important. When you invest within these parameters, you can attract a larger segment of the market, including FHA buyers. This increases your ability to appeal to more people in more demographics.
FHA loans bring home ownership into reach for first-time home buyers who might have a hard time getting approved with conventional lenders. This increases your ability to sell your property faster and broadens your ability to attract more potential buyers.
Millennials and Boomers are the two segments expected to dominate the market in the next five years. Both of these segments are looking at smaller homes: Millennials because they’re just starting out; Boomers because they’re downsizing. Candace Taylor of The Wall Street Journal wrote, “These days, buyers of all ages eschew the large, ornate houses… in favor of smaller, more modern-looking alternatives.”
Both Boomers and Millennials are looking for less upkeep: Boomers because they’re getting older and Millennials because they’re just starting out. More acreage also means more expense.
This keeps it simple while giving you the best chance to make money in real estate!
In addition to our lending criteria, our lenders also have different programs for Multi Unit, Apartments, Commercial, New Construction, Cash Out Refinance, Bridge Loan, LOC, Micro Loans & up to $300M, Each Lender is different with their program terms and rate, therefore we cannot provide an accurate quote until we receive and review your scenario.