Fort starters, fix, and flip loans were designed with real estate investors in mind. Dallas-Fort Worth real estate investors used to fix and flip loans to purchase, renovate, and sell the property. So, we offer short-term loans that cover the property’s purchase price plus the cost of the renovations. The loan is interest-only during the renovation period. Then, you make monthly payments on the loan until the loan is repaid.
The fix-and-flip process isn’t as complicated as you might think. You find a fixer-upper, borrow money from us to purchase the property, fix it up, and then sell it for a profit.
Before applying for a fix and flip loan, here are a few things to consider.
The first is the time it will take to complete the renovation. Generally, lenders want to see that You can complete the renovation within six months. DFW Investor Lending offers up to 12 months to complete your project and repay the loan.
The second thing to consider is the property’s after-repair value (ARV). The ARV is the property’s estimated value after the renovation is complete. We will use this number to determine how much we will lend you.
Your exit strategy is how you plan to make money on the property. Will you sell it or rent it out? Make sure you have a solid plan in place before you apply for a fix and flip loan.
There are several benefits of fix and flip loan programs. Here are a few that we feel are the most important.
You do not need excellent credit to get a fix and flip loan from DFW Investor Lending. We’re more concerned with the deal potential than your credit score. All you need is the right property; we will consider loan approval. We look at the property’s ARV to determine how much we will lend you.
The fix and flip loans are for real estate investors buying, renovating, and selling a property. A bridge loan is for those who are looking to purchase a property before selling their current property. A fix-and-flip loan is for a fix-and-flip project only. Not to mention, a bridge loan usually carries a higher interest rate.
The real estate investment industry has grown steadily since the housing market crash in 2008. And it is showing no signs of slowing down. Fix, and flip activity is expected to reach an all-time high in 2022. Now is the time to get involved in fix and flipping houses. It is a great way to make money in real estate.
The Dallas real estate market has been strong recently. The median list price for a fix and flip property is now $219,900, up from $195,000 just a few years ago.
Investors in the Dallas fix and flip market see good returns on their investment, with properties selling quickly and at a high price. It is clear from the numbers that there is still good money to be made flipping houses in Dallas. If you’re considering investing in Dallas real estate, now is a good time to do it!
However, it is essential to remember that the fix-and-flip market is constantly changing. It would be best to be on top of the latest trends to make the most profit possible.
If you are considering flipping a property, you should get a Dallas fix and flip loan. These loans can give you the financing you need to purchase and renovate a property. Just be sure to research before getting started to know what to expect.
DFW Investor Lending, LLC is the go-to source for hard money loans in Dallas, TX. We offer competitive rates and terms and can help you get the loan you need to purchase and renovate your investment property. Contact us today to learn more about our fix and flip loans.