Hard Money Lenders?

Question

I'm seeking a hard money lender that offers flexible financing with only 10-20% down payments, and is friendly towards first-time house flippers. Ideally, the lender should provide quick approval and understand the unique needs of new investors in the fix-and-flip market.

Josh Bowser · Answer

Rodney - I have heard a lot of folks using Kiavi for hard more lending and their terms are great for first time investors. On the agent side, I have three deals under contract with them in Atlanta right now and process has been smooth so far.

I looked into them myself and I will likely be using them if I have a need for HML.

https://www.kiavi.com/

Bruce Wills · Answer

We should be able to meet all criteria. Kindly send a quote over and we can go from there.lfunds_llc@proton.me

Bruce Wills · Answer

Kindly send a quote over and we can go from there. lfunds_llc@proton.me

Ryan Stuckey · Answer

Longhorn Investments is experienced and reputable with many years of experience in the purchase and rehab financing. First-timers are welcome with no experience required for rehabs under $100k. Up to 100% financing on available on purchase and rehab (loan size up to 75% ARV). Fast closings under 10 days. Active in Atlanta and locations in 10 other states.

George Despotopoulos · Answer

What are the unique needs of new investors in the fix & flip market?

Josh Bowser · Answer

Hey Rodney - there is a company called Kiavi that I have had two people come with during intro calls. One has worked with them on two deals prior and had a great experience.This is one of the few HMLs I've seen that will go 10% down for new investors. There are limitations around LTVs - Please reach out if you have any questions!

Aron Sperber · Answer

Hi Rodney, Let's connect we can definitely help you!

Devin Peterson · Answer

If it is speed and quickness you are pursuing, then you should make sure that as a first-time investor, you have all your homework done. Far often is the demand too high on the consumer end without the full understanding of how a proper fix and flip is financed and leveraged. If you want to ensure speed, commitment, and great terms. I would triple and quadruple-check all of the following before you start talking to any lender or broker requesting max leverage and exceptions to unique projects.

1. ARLTV - do the math, then do it again. If you are pushing 75-80% LTARV, you're going to be required to put more down. Don't purchase and make sure your SoW has meaningful renovations and provides true value.

2. Comps - make sure you have accurate and proper comps. Don't fluff over renovate.

3. Extenent of Reno - Depending on the extent of your renovations, will have a determining factor in final leverage. If you are more on the cosmetic, lite reno side it is safer to say that leverage will be higher. When you start tearing down walls, adding sq footage, or altering footprints, your upfront cash may be expected to be higher.

I'm happy to connect and chat about your strategy/crunch numbers. Good luck.

Rodney Howard · Answer

Im currently looking into Atlanta area.