LendingOne Fix and Flip Loans vs Capital Ton

[Steve Linn]

Just getting into fix and flipping, so bare with me. I keep seeing LendingOne on Facebook and Google, but they require appraisals. How will appraisals work if the property is not even close to move-in ready?! I thought appraisals have strict guidelines. 

I see Capital Ton doesn't require appraisals for fix and flips, is this real? Has anyone worked with either company? What's a desktop valuation?

[Erik Estrada]

Hi Steve, 

The lender will order an appraisal with an AS IS Value and ARV Value for fix and flip loans. It does not matter if the property is not livable, since the whole aim of the appraisal is to determine if your proposed renovations support the ARV. The appraiser is going to look at your scope of work, along with relevant comps to support the work to be completed.

A Desktop Valuation is just an internal opinion of value. There is typically no inspection required on these, however the lender may require pictures of the property from the inside and outside. 

LendingOne seems good, although I have personally never worked with them because I find better terms elsewhere. I have never worked with Capital Ton