First Time Flipper!

[Lilah Myers]

Looking for hard money lenders good for my first flip in the Indianapolis area. Have some houses in mind! Any good recommendations?

[Brian Cauldwell]

Hi @Lilah Myers!

A lot of my clients are looking for different thigs when it comes to what kind of hard money/fix and flip loan. 

A couple of things to consider when looking for loan options. Leverage, interest rate, interest type, fees, what kind of appraisal, and speed. When you do talk to someone, make sure you are asking those. 

[Kerry Noble Jr]

Check with Longhorn.....

[Patrick Drury]

@Lilah Myers
I have done all my BRRRR deals and flips with Wildcat lending. I can send over their info if you are interested in connecting with them. It's usually 12%, 2-3 points, 6-month term, interest-only monthly payments, with an auto extension for every month after. They are solid. They don't beat around the bush and then the day of closing tell you they can't do the deal. They also close pretty quick.

[Mihir Bhimaraju]

Quote from @Lilah Myers:

Looking for hard money lenders good for my first flip in the Indianapolis area. Have some houses in mind! Any good recommendations?

 Welcome to my market! Try checking out Fund that Flip and Longhorn. I also have a local lender that I can put you in touch with, in case the first two don't work out. 

[Ben L Silliman]

Hi Lilah, 

It's exciting to hear about your project, and we're eager to learn more. To expedite the process and provide you with detailed information and assistance, we recommend getting in touch with our Senior Loan Officer, Brian Philips.

You can reach him at the following contact information:

- Direct: (404) 689-7840

- Email: [email protected]

Best regards!

[Pam Brown]

Hi Lilah.  Kiavi is another. One of my Indy buyers just closed on a large Flip project with them yesterday.  Send me a DM if you would like for me to forward a couple of direct contacts there. Happy Flipping!

[Ryan Davies]

I can help. 

Typically our lending partners programs are as follows:

• Rates: 10% to 14% (Most Deals are 12%)
• Terms: 1 Day - 24 Months (Most Deals are 6 months)
• Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
• Minimum Loan Amount: $50,000 (For loans less than $200,000 we charge $2,000 up front before working the file)
• Max Loan: 65-70% of After Repair Value(ARV)
• 100% Rehab Financing Available (Most Deals require 20% of purchase price down payment or cross-collateral)
• Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)
• We have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WI, WY.
• NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

[Mike Klarman]

So being a first timer, you will want to have good credit, you will also want to have a sound contractor relationship in place prior to any offer or financing you seek.  Lots of times people get so excited about the opportunity they forget about the pieces that they need in place to make it all happen.  I've helped about 7 BP community members do their first deal.  sent you a pm.

[Paul Nagy]

Patrick - hello! Could I please have your contact info for Wildcat Lending? I’m looking at doing my first flip in Dallas and am building out my team. Thanks, much appreciated! Paul~

[Pam Brown]

Quote from @Lilah Myers:

Looking for hard money lenders good for my first flip in the Indianapolis area. Have some houses in mind! Any good recommendations?

 Hi Lilah--I just found a credit union that lends specifically for Indiana properties.  Looks like they have some awesome loan programs and it's just $5 to join the credit union.  Send me a message with your email if you would like the info.

[Shango Collier]

I appreciate how you explained the terms in details and offered to send over the info. I would love to have their contact information for myself as well if you don’t mind. 

[Araceli Gutierrez]

I am equipped to provide funding solutions tailored to projects involving property renovation and resale (fix and flip), long-term property ownership (fix and keep), as well as refinancing initiatives. I’d be more than happy to close some deals with you!!