Fix and Flip

A fix and flip loan is a short term mortgage for you to purchase and renovate your property. The fix and flip loan provides the capital to acquire the property and also complete the repairs to help improve the property value. If the project was bought well and the numbers from the rehab budget and ARV were accurate once you are ready to put it back on the market and sell it at a higher price there should be enough money to pay off your mortgage, all of your costs incurred during the project, and should leave for a nice profit left after all expenses have been repaid.

Once the property has been renovated and work is complete if you determine that the best course of action is to hold onto the property and not sell it keeping it as a long term cashflow and appreciation strategy you can refinance out of the fix and flip loan and get a long-term loan through traditional or private lenders.

As work is completed in your fix and flip and you are ready to draw from your construction line of credit you simply complete our draw request that outlines the items of the initial budget that was approved prior to closing that you are looking to get reimbursed for. Once the request has been submitted and processed a draw inspection would be ordered and scheduled between the inspector and investor to verify the work that was submitted for reimbursement was completed. Once the inspection report is received, reviewed, and approved you would be notified and the money would be wired via ACH to your bank account that provided and on file. For a fix and flip loan the investor can use as many or as little draws as needed during the project and based on the cashflow of the investor.