Iowa Fix and Flip Loans Guide What You Need to Know About Fix & Flip Loans!

[Robin Simon]

Easy Street Capital provides fix and flip loans for Iowa investors purchasing residential properties. Whether you are looking to purchase a property with small or large renovation, or simply need a bridge loan, EasyFix is the easiest and fastest loan program in the country. We provide approval in less than 24 hours, can close your loan in 48 hours, and do not require an appraisal. Our loan program is designed to provide clear loan terms upfront and save borrowers time and money in the Sooner State!

Table of Contents:

• What is a Fix and Flip Loan?

• What is Hard Money?

• What do Investors Use Fix and Flip Loans For?

• Key Pieces to a Fix and Flip Loan

• Important Metrics for a Fix and Flip Loan

• What is a Bridge Loan?

• What are the Key Pieces to a Bridge Loan?

• What Do Investors use Bridge Loans for?

• Tips for Negotiating a Hard Money Loan

• How to Know if you Have a Good Loan for your Project

• How to Prepare a Project Plan

• What to do After a Fix and Flip Project is Completed

What is a Fix and Flip Loan?

• A fix and flip loan, also known as a rehab loan or a renovation loan, is a type of short-term financing specifically designed for real estate investors who aim to purchase properties, renovate or “fix” them, and then quickly sell them for a profit of “flip” them. These loans provide funding for the acquisition, rehab, and carrying costs of the property during the renovation period.

• What is Hard Money?

• Hard money refers to a type of financing that is typically provided by private individuals or non-traditional lenders, rather than conventional financial institutions such as banks. Hard money loans are often used in real estate investing and are secured by the value of the property itself. Hard money loans focus less on the borrower’s creditworthiness and more on the collateral – the property being purchased and/or renovated.

• Hard money loans are accessible to borrowers with less-than-perfect credit or who may not meet the stringent requirements of traditional lenders. Hard money loans are known for their speed and flexibility, with a streamlined application process and quicker approval times. However, these loans often come with higher interest rates and fees compared to traditional financing options. This is due to the increased risk and specialized nature of these projects. Hard money provides real estate investors with an alternative source of capital, allowing them to seize opportunities, fund renovation projects, and ultimately generate returns in the competitive real estate market.

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