FAQ
Got Questions? Look no further!
If you’re asking yourself:
- Should I borrow from a private lender?
- What are the loan terms?
- Is there a credit check?
We’re here to help with
Frequently Asked Questions
What loan types do you offer?
We offer loans to house flippers, multifamily syndicators, land buyers, commercial real estate investors, and note buyers.
What’s the difference between a traditional lender like a bank and a private lender?
Basically, with us you get cash faster and easier.
Banks and other institutional lenders generally need a lot of your time before they make the decision to give you a loan. Oftentimes real estate investors need a quick response and need the cash fast to close their deal.
Banks give loans on the basis of the current value of a property. That’s why they don’t lend money for distressed properties needing repairs.
We don’t focus on the property as-is. We lend money against its after-repair value (ARV) so that house flippers can finance the deal, fix & flip the house and earn a return.
Do you partner up with brokers?
Yes, we do. Brokers play an important role in the space of real estate investing.
What are your criteria for financing a fix & flip deal?
In comparison to a traditional lender we make borrowing money easier. Our credit requirements are much lower than a traditional lender. We’re more concerned about the details of the deal than your credit score. However, if you have judgments or bankruptcies in your credit history these will prevent you from securing a loan.
To improve your chances of being approved, having some equity in the property yourself lets us know you’re more likely to complete the deal.
Also, we’d like to see some previous real estate investing experience. We don’t lend to a first-time house flipper who might not get the deal done.
Do you lend money to house flippers?
Yes, we do. We don’t focus on the property as-is. We lend money against its after-rehab value (ARV) so that house flippers can finance the deal, fix & flip the house and earn a return.
When do I have to pay back the loan?
Typically, we offer short-term loans that last from one to three years.
Is your lending process complicated?
No, it’s straightforward. Just apply and describe your borrowing needs. We’ll review your application in less than 48 hours and – if approved – give you the money within 5 days.
Do you have any other questions?
Contact us and we’ll get back to you a.s.a.p. with an answer.