Fix and Flip Funding in Kansas City
Fixing & Flipping houses can cost a lot of money, but there is the potential of a massive profit if done correctly. In addition to buying the home, you will need to pay for repairs, contractor fees, listing and broker fees, and more. How you finance these items depends on the type and condition of the property, your experience with real estate investment, and your personal financial situation. It is important to know before you begin your project how each of these items affect your overall profit.
Crossroads Investment Lending’s Fix & Flip Funding to Investors is one of our biggest loan programs in the Kansas City area. We work with new and experienced investors to provide short-term fast and professional funding for 1-4 unit residential properties.
Fixing and Flipping Loans
Crossroads Investment Lending is ready to provide a loan to fund both the purchase and renovation of residential property. These ‘fix and flip’ loans serve both short-term and long-term investors. Short-term investors use the loans to fix the property and then flip it for faster cash. Long-term investors find these loans helpful to fund the renovations needed on a property intended to be retained as a rental home.
Beyond the actual cost of the investment, you also need to ensure that all the repairs are planned, so you can avoid delays in your sale or rental later. Crossroads Investment Lending will walk every property with our customer. Our team is experienced in the purchase and rehab of Kansas City real estate, having completed over 1,000 properties!
How does a fix and flip loan work?
- The loan will be based on the property itself ( asset-based). This means that the property is the collateral for the loan.
- Our process is FAST; we generally close a loan within 5-7 days of the initial inquiry!
- We custom quote every deal! Every house is unique, and every borrower has their own needs. We’ll meet with you to discuss and determine the best loan for your situation, and move quickly to help you close your deal.
- We are streamlined. We’ll work with you to coordinate closing with the title company, and complete a full property assessment to finalize your terms.
What does a fix and flip loan cost?
We offer a streamlined process with limited cost to the investor. Assuming your total purchase and rehab costs come in below our LTV of 65%, the costs for funding 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:
- Processing: $495
- Document Preparation: $480
- Administrative: $275
- Wire fees as applicable by bank/title company
- Draw Inspection Fee: $175 per inspection, held from draw advanced
Contact Us Today!
Crossroads Investment Lending is here to serve you! If you are interested in one of our loan options, do not hesitate to contact us today! One of our highly experienced team members will listen to your individual situation and tailor a loan that will help you make the maximum possible return on your investment. You can rest assured that your transaction is in safe hands.
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