Rehab Loan in Bird Road Area

In September, Refresh funded a $195,000 rehab loan for a single family residence fix & flip project in Bird Road. The purchase price was $260,000. The Borrower plans to complete the rehab and flip back onto the market for $350,000, so the loan-to-value is 75%. The loan term is 1 year. The loan was made to a seasoned borrower, and …

Three Ways to Expedite Selling your Home

Sometimes for whatever reason, you may want to quickly sell a home. It could be that you inherited the home and don’t want to deal with it or are moving soon or any other of the plethora reasons. Here are a three things you can do to expedite the process.   Skip partnering with a real estate agent. Real estate …

Should you Sell to the Cash Buyer?

Ever see signs and people marketing “We Buy Houses for Cash?”   To some individuals it may be irrelevant, but to others who are headed towards the foreclosure of their home, this may be the ideal deal. Let’s break down the benefits and the disadvantages to doing so:   The benefits include a fast sale (around seven days) without hassle …

The Anatomy of a Hard Money Loan

The anatomy of a fix and flip can be simple and the costs are minimized with a fast rehab. To understand the simple math of a fix and flip here is a standard loan Rehab Funding made with an investor in 2015. Partnering with Refresh Funding, in October of 2015, the homeowner bought a Miami-Dade  property for $183,000. It took …

Hey, Hard Money Lender, Lend a little Money to Me

To understand whether or not a buyer should engage in a hard money loan, it is beneficial to look at other sources of funding other than from a bank. So what if you want to do a fix-and-flip? What if you’re afraid of prepayment penalties? What if you have a poor credit score? Something to consider is hard money loans …

The Math Behind a Fix-and-Flip Hard Money Loan

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. To understand the simple math of a fix and flip 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  property …

Reason to go All-In on a Rehab

Slapping on a new coat of paint and cutting the grass does not make a fix-and-flip a fix-and-flip. It is worth investing in a true renovation. if properly executed, the seller of a fix and flip can charge lots more money selling someone their dream house then a half-done home, and then the buyer would be exceedingly pleased with the …

Housing Bubble, you Again?

In the wake of 2008 Housing Crisis in South Florida, many fear the current market is in a bubble. Looking at the median sales price for homes in Miami, Florida in the graph below, the trend for 2016 looks eerily similar to the one that was approaching 2007. But before, abandoning your property there are many differences in the real …

How Scary are Second Mortgages?

These days, taking out a second mortgage has become negatively connotated. But, what exactly are the pitfalls to taking a second mortgage? Second mortgages allow you to not take out a personal loan, but instead tie an installment loan to the property, leveraging your home further with another lien. Another benefit to second mortgages is that the interest is also …

So what is a Lien?

A lien gives a bank or lender the right to sell the dictated collateral property if a borrower does not meet the terms of a loan. A lien is released when the loan is paid off. For instance, an individual takes out a mortgage on a house and the bank gets lien until which the homeowner pays off the debt. …