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Financing Update: Do You Fix and Flip on a Regular Basis or a Business Owner With Good Credit & Strong Financials?

by Lathea Morris| Posted on June 9th, 2017| Views 87

Aggressive investor lending programs and small business lending platforms continues to transform the world of lending. As these transformations take place, M&L.com will continue to focus on partnerships that offer an array of financing products for diverse investor and small business entrepreneurs.

For flippers who fix on a regular basis or purchase and rehab at least 1 property on a quarterly basis, consider a line of credit (LOC). How does this work? Let's say you're approved for a $250K line. You purchase a SFR or multifamily (5+ units) for $100K and rehab budget is $30K for a total loan amount of $130K. You now have $120K left to purchase and rehab another property. If you don't immediately purchase another property, when you repay the $130K, your credit line revolves to $250K. Minimum loan or ARV is $100K.

Advantages of a LOC: It Revolves; Once you're approved, you will have a LOC available to acquire properties and rehab - this access to capital will enhance your ability to complete deals; Your LOC can be drawn upon when you submit an executed purchase contract; and, The line can be drawn upon multiple times which means that an investor can invest in multiple properties with the same line of credit. 

We Have Partnered With a Small Business Lending Syndicate! Why? Because working with a syndicate of lenders give business owners financing options. Some of the loan programs include: Business Line of Credit ($10K-1M+) and Personal Loan for Business ($35K) - The process is pretty straightforward. Here's additional information: http://tinyurl.com/biz-financing-options

For residential rental property investors who can't qualify for traditional financing and don't want to pay hard money rates and fees, we’re offering a no points program. This program is for investors who have an active personal residence mortgage reporting on their credit report. Minimum loan amount of $50K+, up to a 75% LTV, rate of 7.990% - 9% and credit score of 600+ or 650+.

M&L.com offers diverse financing products to fit the needs of many different types of investors and business owners. Are you in a position to take advantage of the array of financing products on the market?

Posted on:June 9th, 2017
Author:Lathea Morris
Views:87