Need some tips please

[Yakir Aloni]

Anyone Familiar with Backflip (Hard Money Lender)? Looking for Similar Lenders - No Interest for 6 Months or 100% Financing

Hey everyone,

I'm looking to connect with anyone who has experience using Backflip as a hard money lender. I'm particularly interested in their model where they offer no interest payments for the first 6 months (or until you refinance), and potentially 100% financing for both the acquisition and rehab.

If you've used them before: What was your experience like? How easy was the draw process? What % did they actually cover of the deal (purchase + rehab)? Any hidden fees or issues I should watch out for?

Also, I'm looking for similar lenders who offer: No interest payments for the first few months or until refi Full acquisition + rehab funding . Nationwide (or at least

available in IL)

I've done a few deals already, so I have some experience under my belt, but I'm trying to scale and looking for more flexible lending partners.

Appreciate any tips, lender names, or personal experiences you're willing to share!

[Ebonie Beaco]

I’ve worked with investors using Backflip and similar lenders, and the model sounds great on the surface, but you want to look a little deeper into how it actually plays out on the deal.

The “no interest for 6 months” is usually a deferment, not free money. In most cases:
• Interest is still accruing and gets paid at payoff
• The rate is typically higher than standard hard money
• There may be points or backend fees that make up for it

So it helps your cash flow upfront, but your total cost is still there.

On the 100% financing piece, it’s usually not truly 100% across the board. What I see most often:
• 85% to 90% of purchase
• 100% of rehab (based on scoped budget)
• The remaining gap covered if the deal is strong enough or you have experience

The deals that actually get “full coverage” are typically:
• Deeply discounted purchases
• Strong ARV support
• Clean exit strategy (refi or sale already makes sense on paper)

Draw process is another thing to pay attention to. That’s where a lot of investors get slowed down:
• Some lenders reimburse only after work is completed
• Inspections can delay timelines
• Holding costs can stack up if draws are slow

If you’re trying to scale, I would focus less on just “no interest” and more on flexibility and execution speed. The best lenders for scaling usually offer:
• Fast closings
• Predictable draw schedules
• Ability to roll into DSCR or long term financing after rehab
• Clear leverage based on ARV, not just purchase

There are quite a few lenders that can structure deals close to what you’re describing, especially in Illinois, but it really comes down to the deal itself and your exit plan. If you want, send me one of the deals you’re working on. I can break down how I would structure it and show you what leverage and terms you can realistically get so you’re not leaving money on the table or getting caught on the backend.