Kevin...I haven't seen you around the rain in awhile. 

"100% of the purchase price and 100% of the rehab costs.  I am curious to know who the lender is.  Most of out hard money lenders will not do 100%. 

It has been a while.  I'm still trying to figure out this dad/working man deal.

Let's see, do I want to divulge my secret methods?  Sure.  I'll email you.

Are you sure it can be done? What kind of rates are you talking about. ? I will keep your name on file if I ever need this product.

I'm sure it can be done.  You just have to have plenty of equity in the home after you fix it up.  It's a one-year term, hard money loan, that we can refinance into a fixed rate after the improvements are done.  Give me a call and I'll go over the details with you.

(570) 836-8336

Hello, We just bought a home on ten acres to flip after repairs etc. We did a 100% bridge loan at our bank. It is @ 7.25% single pay for 18 months but we hope to get the updates done in 90 days and back on the market.  I know if you have good credit at the bank of your choice this type of loan is not a problem.  We were in the bank 30 minutes to get the loan with a four day close.  It sound as though you can help a lot of investors with your program.

Don

Don,

I'd love to take a look and see how I can help you.  Please give me a call and we can discuss your options.

(570) 836-8336

Or, you could email me and leave your contact info.  I'll give you a ring when it's convenient for you.

I have no doubt the loans can be found, and I agree it's a great time to buy an investment property. However, your use of the word 'flip' has me scratching my head.

In the past, quite a few people would buy a house, fix it up , sell it quickly for a profit. "A flip".

What I'm seeing in todays market are people buying up foreclosures... but with expectations of sitting on them for a few years as the inventories are so high.... the 'fixed up' house has 10-20 houses or more competing with it.   Houses are not selling quickly. 

Are you really seeing the flipped houses sell quickly up in Scranton?

Good to see you back on AR.

Good catch Rob! 

You are exactly right.  The people who have been buying foreclosures have been sitting on them with the intent of collecting income.  This is the opportune situation to buy low and hold until you can sell high.

With these loans you have two exit strategies.  You can either sell the house to pay it off, or refinance it into a more conventional loan.  The investors I have been working with have been refinancing.

That said, I am marketing this loan product nationwide, so I can't speak to the many markets all across the country.  There still are places where it is a better strategy to flip than to hold.  It also depends on the individual investor's preferences. 

In the end I chose to use the word "flip" because it does apply to this loan and because it's simply a better search engine word than any alternative.

As always, you bring up a good point and something worth blogging about in the future.

I am always interested in 100% financing.  I have my eye on a house listed at $29,000 that 2 years ago sold for 70k, can I buy it fix it and hold it until the market turns around? Sure why not?

Yes you almost certainly can.  There are a few questions I would need to ask you first.

Given that scenario, you'll probably be able to roll all your costs over into the loan as well. 

Give me a call and we can discuss.  (570) 836-8336

Are you able to set up this type of loan nationwide?

I sure can.  Give me a call.

Kevin,

 Thanks for visiting my blog. I have a possible "flip" I am thinking bout for myself. I will keep you in mind if it all comes together.