Finished Flip in California

Usually we can provide a pricing/term sheet within 24-48 hours after submitting information at GET MY RATE. 

No. We only lend commercially to entities such as LLCs, Corporations, Limited Partnerships, etc. All of our lending is geared for real estate investments and real estate entrepreneurs. 

We have non-recourse and limited recourse loans. Our non-recourse loans will not require you to sign personally as a guarantor on your loan. Our limited recourse loans are limited to the cost of finishing the real estate project and a carve out for fraudulent borrowers. 

We will look at any project in all 50 states.

In most cases, we can fund a loan within weeks, as long as we are provided the appropriate documentation in a timely manner. 

No, we do not consider ourselves a "hard money" lender. As a matter of fact, we are probably more like a private lender that understands real estate investors. We can do things that typical banks can't do, but not nearly as expensive as a hard money lender. 

Yes, typically when you have a construction project OR a fix and flip project, your construction funds will be held back and paid out via construction draws. This protects you and the lender as we will want to ensure that not only the work has been completed properly, but the contractor and/or subs on the project, sign off with proper lien waivers. 

Yes, typically when you have a loan with us, typically you will make monthly payments. The payments are usually "interest only". There are cases where we implement what is called an "interest reserve account", where the interest payments are front loaded by the borrower (in cases of credit challenges or lower liquidity scenarios). In some cases, we may use the "interest reserve account" and have it funded by the lender. In that case, you will be paying interest on your interest. In this scenario, the project is typically less than $1 Million. 

Replacing a cash offer with financing, is always tricky if undisclosed to contractual parties. But, we get it, your return goes up and your financial risk may go down by using financing. While we will work our best to get your project closed in the timeframe of the contract, it is always a good idea, to let the other parties to contract know, that you will be putting financing on the project. This can protect, non-refundable earnest monies and strict timeframes, incase closing needs to be pushed back due to the financing process. 

The first thing you should do is submit information on your deal here: GET MY RATE. Once we send you a pricing/term sheet, and you approve it, we will send you a lit of things we will need to complete your loan., We understand the world of real estate investors/entrepreneurs and will work diligently to get you the money you need to start your project!