Real Estate Investing Loans

[Tyler Livingstone]

Hello everyone 

Just looking to see what types of loans are out there for real estate investors.  We are looking to purchase homes in need of some repair (updating kitchen, bathrooms, and flooring) these types of things, not completely dilapidated.  

I have heard lenders say to use a fix and flip loan for the construction and cash out refi once complete.  I have used a fix and flip loan before and did not enjoy the high interest payments and the tight timelines.  Is there a long term loan that will purchase the property and fund the repairs as well?  

Let me know what you think.  Just looking for a loan that if the construction goes south and I need to find a contractor quick I can just continue paying the mortgage and don't have to worry about or 12% interest payments or fore closing because I can't cash out refi a property in mid construction.

Thanks 

Tyler 

[Luke Gibson]

most hard money lenders will lend on 100% of the rehab and about 70% loan to cost. The rates will get better the more deals you do. Hard money can be one of the best ways to get into it. There will be a down payment required to obtain the loan. I'd be able to help you with the down payment funds if you'd want to JV!