Fix-and-Flips can be quick and simple with a reliable hard money lender. The anatomy is simple and the costs are minimized with a fast rehab.Â To understand the simple math of a fix and flipÂ here is a standard loan Rehab Funding made with an investor in 2015.
Partnering with Refresh Funding, in August of 2015, the homeowner bought a Homestead Â property for $89,000. It took 149 days and investing $7,781 in rehabilitation cost. The investor paid 12% to borrow for a total debt service cost of $101,170. With Refresh Funding supplying a 58,800 hard money loan, the investor was able to sell the property at $120,000 and acquire a $18,830 profit, creating an 18.61% return on investment. Below are the numbers:
$89,000+$7,781= $101,170 ($58,000 was loaned from Refresh Funding at 12% at a .7 LTV)
In less than five months the investor made an 18.61% return on investment.
If you need a fast loan, Refresh Funding can provide Florida-based loans for individuals seeking Rehab loans for Fix and Flips. Refresh offers fix-and-flip rates starting at 9.99% for a 12-month term or rental loan rates starting at 7.99% for 36-month terms. We like to think of ourselves as your choice for Private Mortgage Funding & Lending. It is Refreshing to know that the bank is not your only solution.