Hello all,
What is the best way to finance a flip/rehabb/fixer?
thanks,
Joseph
Most investors I know do 30 yr loans (some I have heard 40 yr)for the lowest possible payments while holding, and use other means such as a heloc,credit card, etc for fix up and holding costs.
rbw sums it up pretty well. It is nice to go in to the purchase of a property with a line of credit available for DP monies and minor repairs…
However, depending on the parameters of your scenario there are a variety of higher LTV products available.
Conforming/nonconforming loans up to 100% LTV/CLTV and are based primarily off of the borrowers parameters. (i.e. Credit, income, assets, etc
If your scenario is outside of normal parameters you could use a Mard Money Lender (HML). Their loans are based more on the property scenario. (LTV, ARV)