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Brian Scott
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Brian Scott
Posted May 13 2024, 10:56

Hi, my name is Brian. Does anyone have any recommendations for lenders that cater to beginner fix/flip rehabbers. I'm currently a wholesaler and I have done renovations for about 5yrs. Any insight would be appreciated.  Thanks

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Denver McClure
Pro Member
  • Financial Advisor
  • Dallas, TX
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390
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Denver McClure
Pro Member
  • Financial Advisor
  • Dallas, TX
Replied May 13 2024, 12:38

Hey @Brian Scott, we have a network of lenders that can help you out. Feel free to PM me if you'd like to chat sometime.

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Simmy Ahluwalia
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  • Lender
  • Atlanta, GA
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Simmy Ahluwalia
Pro Member
  • Lender
  • Atlanta, GA
Replied May 13 2024, 13:55

@Brian Scott - we can help.  What city/state are you investing?  We should chat live....

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Sophia Buesing
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  • Lender
  • Denver
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Sophia Buesing
Pro Member
  • Lender
  • Denver
Replied May 13 2024, 13:59

Would love to help! We work with a bunch of beginners. 

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Erik Estrada
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#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
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Erik Estrada
Lender
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
Replied May 13 2024, 15:17
Quote from @Brian Scott:

Hi, my name is Brian. Does anyone have any recommendations for lenders that cater to beginner fix/flip rehabbers. I'm currently a wholesaler and I have done renovations for about 5yrs. Any insight would be appreciated.  Thanks


 Have those renovations been for your own flips? Or were you a GC for other clients?

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Ryan Davies
Lender
#3 Creative Real Estate Financing Contributor
  • Investor
  • Salt Lake City, UT
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Ryan Davies
Lender
#3 Creative Real Estate Financing Contributor
  • Investor
  • Salt Lake City, UT
Replied May 14 2024, 07:36

We can help 

  • Rates: 9% to 13% (Most Deals are 11-12%)
  • Terms: up to 36 Months (Most Deals are 6-12 months)
  • Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
  • Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
  • Max Loan: 65%-70% of After Repair Value(ARV)
  • 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
  • Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
  • NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

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David Pearl
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  • Lender
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David Pearl
Lender
  • Lender
Replied May 16 2024, 17:38
Quote from @Brian Scott:

Hi, my name is Brian. Does anyone have any recommendations for lenders that cater to beginner fix/flip rehabbers. I'm currently a wholesaler and I have done renovations for about 5yrs. Any insight would be appreciated.  Thanks

 @Brian Scott - Hi Brian. We offer Fix & Flip loans and work with beginners! Happy to discuss.