Renovate to Rent
Turns rehabs and construction projects into long term term rental income and capital appreciation investments…
- Starts with a rehab, fix to flip or construction loan.
- Renovated properties lease and appraise for more money.
- After rehab or construction is complete and property is leased, we refinance it at a lower rate 30 year fixed rate or 5/1 ARM at 70 to 75% of appraised value.
- If your numbers are right, there should be enough upside so interest, points and other loan expenses don’t matter much versus creating immediate profit by increasing the property’s value, charging higher rents and better capital appreciation potential from a more desirable property.
- The net result is little or no cash out of pocket to own the property, reap long term capital appreciation and have tenants pay off your mortgage and property taxes.
- Find an exceptional project and you may even walk away with cash in your pocket when the property is refinanced at 75% of appraised value.
- No tax returns, 4506T or income verification required
- 660+ credit
- 1-4 unit residential, 5+ unit multifamily, mixed-use and commercial properties
- Loan amounts: $500,000 to $100 Million per property
- PRE APPROVALS in 24 business hours
- Closings: 10 to 30 days for rehab loans; 3 to 4 weeks for rental loans
- No upfront fees. We are paid when your loan is funded at closing.