Me and my partner would like to get a fix and flip loan under a LLc .
There are a ton of lenders out there that offers this product. What questions do you have about the process?
Most lenders that lend to LLCs or more specifically Real Estate investment LLCs are looking for real estate ownership experience prior to getting a loan for you in your LLC. The reason for this is that most Real Estate investment loan providers are asset based lenders and are looking at your liquidity, experience as a real estate investor and the asset you are buying/refinancing. @Michael Almeida If you own properties in your name or have done successful fix & flips in last two years you should be able to get financing from most national private money lenders made to your LLC.
Hey @Michael Almeida As stated above you are going to be paying a higher interest rate as most of these lenders are experience based. I know of a few lenders that do fix and flip loans and can even finance 100% of the renovations.
Give some Lenders a call!
Typically 80%-100% purchase with full rehab.
It depends on experience and credit worthiness.