Fix and Flip Loans in Kansas City
Fix and Flip Funding from Crossroads Investment Lending
Crossroads Investment Lending makes house flipping so much easier. Flipping houses in Kansas City is a great short-term solution that has the potential for massive profits. The average return on investment (ROI) for flipping houses is over 40%, with the highest ROI closer to 55% on houses with sale prices ranging from $100 to $200 thousand. Securing the fix and flip funding you need to get started on your rehab project is quick and easy when you work with the professionals at Crossroads Investment Lending. Our fix and flip financing experts will walk you through all of the details, giving you clear answers on how to start flipping houses and helping you navigate which loan program is right for your needs.
What are Fix and Flip Loans?
Fix and flip loans cover the purchase price and necessary renovations for residential investment properties using the properties themselves as collateral. Other items covered in fix and flip funding include contractor’s fees, listing and broker fees, and more. Short-term investors can use fix and flip loans to fix up a property and sell it for cash fast, while long-term investors find these loans helpful for renovations on rental properties. Fix and flip properties are often purchased through a foreclosure, bank short sale, or auction. Buyers may attempt to sell the property “as-is” or improve it. Upgrading and reselling a property for profit is often funded through a fix and flip loan.
What Are the Benefits of Fix and Flip Loans?
Fix and flip loans are beneficial for a variety of reasons. Being relatively short-term loans, they create opportunities for investors that differ from traditional home loans. Fix and flip loans are secured investments because the real estate serves as the collateral. In case of default, the lender may take ownership of the collateral. Another benefit of fix and flip loans is that they have short durations, typically 12 to 24 months, and there’s no penalty if you repay the loan early. Fix and flip loans are diverse because they have low stock market correlation, making them a nice option for diversifying traditional portfolios.
What Types of Properties are Eligible for Fix and Flip Loans?
Almost all types of properties can be purchased with fix and flip loans, including single-family homes, two to four-unit properties, condos, and townhomes. If you’re unsure, we’d be happy to help you find out if the property you’re interested in is eligible for a fix and flip loan.
Fix and Flip Loan Costs
At Crossroads Investment Lending, we understand that every dollar is important to you. That’s why we offer loans for flipping houses at extremely affordable rates. With a loan-to-value ratio (LTV) of 65%, the costs of funding for flipping are:
|Property Assessment Fee:||$450 due at time of request|
|Loan Origination Fee:||3.5–5% of the loan amount, minimum $2,500|
|Loan Processing Fees|
|Wire fees:||As applicable by bank/title company|
|Draw Inspection Fee:||$175 per inspection, held from draw advanced|
Is the Loan Process Complicated?
No. At Crossroads Investment Lending, we take a great deal of pride in our simple fix and flip lending. We also streamline the loan process by coordinating with your title company for closing and completing a full property assessment to finalize your terms.
Why You Should Choose Crossroads Investment Lending
When you need fix and flip funding, you can count on Crossroads Investment Lending. We’re experts in investor rehab loans, bridge loans, and hard money loans, whether you’re a first-time home flipper or do it for a living. We offer fast and efficient private money lending and can help you understand what type of loan is best for you. Contact us today to learn more or get your free estimate.
Why Choose Us?
- Family Owned & Operated
- Local Fix & Flip Finance Experience
- All Credit Scores Considered
- Close in 7-10 Business Days
- Short Term Loan for Investment Projects