Fix and Flip Loans
Residential Properties 1-4 Units – Loan Sizes From $75K to $5M (No Pre-Payment Penalties) Rates start at 9.99%, 2.5 points
FIX & FLIP
65-75% As-is Value and 100% of Rehab Funding.
- No prior experience needed
- Up to 70% LTV on After Repaired Value
- Minimum down payment 20% of purchase price
- No Pre-Payment Penalties
Flipping houses can be a very profitable pursuit under the right circumstances, but each venture requires a large up-front investment, and distressed properties don’t stay on the market long. If you can’t get your hands on enough cash, you could either miss out on a lucrative opportunity altogether or get stuck holding an unappealing property until you can afford to make renovations.
When you need funding for a real estate flipping enterprise, fix and flip loans are the ideal solution. Aryming Asset Funding offers short-term loans specifically for flipping houses that help borrowers close faster and provide more security for lenders. Read on to learn more about fix and flip loans and how Aryming can assist you with flipping homes successfully.
What Does “Fix and Flip” Mean?
Fixing and flipping houses is the process of buying distressed properties for relatively low prices and reselling them for a profit. Fix and flip buyers can sell the property as is, complete major renovations to increase its value, or demolish it and build a new house on the land.
Despite the potential for great profits, there are several challenges associated with real estate flipping. For one, it’s more expensive than other forms of real estate investment—prospective flippers need to have enough cash to purchase the property, fund renovations, and cover realtor and closing costs during the resale. Anyone selling a distressed property is probably trying to earn cash quickly, so flippers need to secure funding and close the deal fast before somebody else takes the property off the market. There’s also a high barrier to entry for inexperienced flippers that aren’t familiar with the local real estate market or don’t know how to complete a whole house flipping process with limited funds.
What Are Fix and Flip Loans?
Fix and flip loans are short-term loans (typically lasting 12-24 months) tailored specifically to real estate flipping. They close faster than loans from banks and other traditional lenders, allowing flippers to buy a property quickly before the opportunity disappears. Loans for flipping houses are also more secure investments for lenders because the property in question serves as collateral.
Advantages of Working With Aryming
Aryming’s loans are perfect for anyone interested in flipping homes. Our fix and flip loans close 10-12 days after completion of the full loan package, so borrowers won’t have to worry about being too slow to purchase their ideal property. We offer fast draws as well—unlike other lending companies that may take 4-6 days to release their funds, our funds release within 24 hours of a completed draw release process. This means flippers who work with Aryming have the money to begin renovations or construction sooner.
Aryming’s firsthand knowledge of the real estate market in the northwest United States can also be advantageous to flippers in the area. If you’re based in New York City, New Jersey, Baltimore, NoVa/Washington, D.C., Philadelphia, or Southern Connecticut, we can offer localized real estate advice that national lenders can’t, and we can have an Aryming representative meet you anywhere face to face within an hour. Flippers who already have a relationship with Aryming will hear about new distressed properties being put on the market before anyone else, but if you haven’t contacted us before, don’t worry—we’re happy to work with inexperienced flippers too (which isn’t something many of our competitors can say).
Whether you’ve already had success with flipping houses or you’re trying real estate flipping for the first time, Aryming will be an enormous help with your investment. Fill out our borrower application to get the ball rolling on your fix and flip loan process.