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 …

Beautiful Miami Fix and Flip: Before and After

Before:   In December of 2015, Refresh funded a $163,830 hard money loan for a single family residence fix & flip project in Miami. The purchase price was $273100. The Borrower plans to complete the rehab and flip back onto the market for $313659, so the loan-to-value is 60%. The loan term is 1 year. The loan was made to …

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 …

Hard Money Loan Funded In Miami

In February of 2015 , Refresh funded a $100,000 hard money loan for a single family home fix & flip project in Miami, Fl. The purchase price was $135000. The Borrower plans to complete the rehab and flip back onto the market for $195000, so the loan-to-value is 74%. The loan term is 1 year. The loan was made to …

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. …

How to have a Successful Fix and Flip

  Partnering with Refresh Funding, in August 2015, a homeowner bought a Homestead property for $86,100. It took 150 days, with only $1,525 in closing costs for a total acquisition cost of $87,625 and investing $17,094 in rehabilitation cost. The investor paid 12% to borrow for 150 days for a total debt service cost of $114,737. With Refresh Funding supplying a …