@Charles Jones Is the funding request for 1608 Coventry Road still active? To assess a possible first-position loan, we'd need the purchase price, rehab scope, supported ARV, requested loan amount, property type and closing timeline. We work through direct private lender relationships, with a standard $75K loan minimum. Feel free to DM me the deal summary and any supporting document... What's the timeline?
Charles, Cleveland is one of the few places left where the flip and rental math still works without a calculator crying. Lenders will want your purchase price, rehab budget, and after repair value for each property, plus a couple of past projects if you have them, so a one page summary per house goes a long way. My team and I can point you to someone who funds both flips and rentals if that helps.
I came across your post regarding private financing for fix-and-flip projects and long-term rental investments in Cleveland.
I'm Mayo with Gilfurt Capital, an independent commercial and investment financing brokerage.
I work with a network of lending sources offering financing solutions for fix-and-flip acquisitions, renovation projects, bridge loans, and DSCR rental properties.
I'd be interested in learning more about your current investment plans and financing requirements to determine whether there's a suitable fit within my lending network.
Feel free to connect with me here or reach out directly.
Hi, Benny Katz here, co-founder of ATZI. We arrange private capital for fix-and-flips (purchase plus rehab, high loan-to-cost) and DSCR loans for long-term rentals, including refinancing out of a flip into a rental. If you share the address, purchase price, rehab budget, ARV, and your timeline for the current deal, we can get you terms quickly. I'll send you a private message as well.
Hi Charles - welcome in. For Cleveland flips, hard and private money lenders usually size off purchase price plus rehab budget, capped by ARV, and they will want your exit clear - sale or a refi into a long-term rental loan. For the rental side, DSCR lenders look mainly at rent versus the full payment, so having both sets of numbers on a specific property makes the conversation much more concrete. I am Marc with Royal Partners - if you want, DM me a deal you are looking at with price, rehab estimate, and expected ARV or rent and I will give you straight numbers on how it would likely be structured.
I’m Adrea with EquityNest Capital. We provide commercial real estate and business-purpose lending for new and experienced investors. I’d be glad to look at both the Cleveland flip & fix and the long-term rental financing.
If it would be helpful, DM me a current deal you are considering (address, purchase price, rehab budget, expected ARV, requested loan amount, experience, available cash, and closing timeline. If it is a rental, include the expected or current rent so we can also evaluate the DSCR takeout) and I’ll give you a straightforward view if it is a realistic fit.
We can help with your fix and flips. I'm with Marshall Reddick, and Cleveland is one of our core markets. We've funded hundreds of deals locally, so we know the neighborhoods, the values, and what a realistic rehab looks like.
We work with both new and experienced investors. Because we hold our loans to maturity instead of selling them off, our underwriting has a lot less red tape. For example, we don't require inspections or appraisals, which helps you close faster and keeps costs down.
If you have a deal lined up, or just want to talk through how we work, send me a DM or email me at [email protected].
For Cleveland flips most lenders will do around 85 to 90% of purchase and all of the rehab in draws, as long as the after repair value supports it, and then the rentals can roll into a DSCR loan once they are leased. Having a scope of work and a couple of comps ready speeds things up a lot. If you have a property lined up I can run a couple of options.
Hi Charles — I fund flips and DSCR rentals, and Cleveland works. For 1608 Coventry, send me what you've got: what it's selling for, your rehab budget, what you think it's worth fixed up (ARV), whether you'd flip it or hold it as a rental (and expected rent if holding), how much cash you're bringing, any flips you've done before, and your credit range. With that I can tell you what the loan would actually look like instead of talking in circles. One thing so we're clear: I'm on the lending side — I don't come in as an equity partner, but the right loan structure usually does the same job. Email is [email protected]. Jiao Liu, Eirvale Financial Services
Having an actual address picked out and asking about structure before you sign is the right order to do it in. On a bridge loan for a flip, the cash that catches people is the part outside the loan. Points, closing costs and the monthly interest while the rehab runs usually come out of your pocket, on top of the 10 to 15 percent down. That gap is where a partner fits. Commonly it's a money partner who covers it, or someone with a few completed flips who signs on with you, since a lot of bridge lenders set leverage off deals done in the last 3 years. Put the split in writing before closing. How much cash you'd need depends on the price, so what are you paying for Coventry?
Hi Charles, I'm a lender, and purchase plus rehab money for a Cleveland flip is something I can help with, along with moving the house into a rental loan if you decide to hold it. Since you mentioned structure, the first thing to settle on 1608 Coventry is whether it's a sell or a hold, because that decides which loan fits and what your exit looks like. Have the purchase contract, a line-item rehab scope and a few comps ready so any lender can size it quickly. Is this your first flip, and are you leaning toward selling it or keeping it as a rental?
Local Clevelander here. I have 9 investment properties local, off of 116th and Union, 139th, and Fairfax area. I can give you my input on some lenders I have used, the good, the bad, and the ugly during that time. I sent a connect request. Feel free to connect.
Hi Charles, I own Ocean Coast Mortgage, a brokerage that arranges business-purpose investment loans. We have solutions for both fix-and-flips and long-term rentals, and we can walk you through the process from start to finish. Let's connect and set up a quick call.
I came across your BiggerPockets post regarding your search for financing for fix-and-flip projects and long-term rental properties in the Cleveland market.
My name is Mayo Gilfurt, and I represent Gilfurt Capital, a commercial and business-purpose real estate financing brokerage.
We work with lending partners offering financing solutions for eligible investment property acquisitions, renovation projects, bridge financing, and rental property investments.
I'd welcome the opportunity to learn more about your investment strategy and determine whether our lending network may be a suitable resource for your upcoming projects.
Are you currently working on a specific acquisition or looking to establish a financing relationship for future opportunities?
We help investors find financing for fix-and-flip and long-term rental properties. We’d be happy to explore funding options that fit your investment goals. DM us or email [email protected] to discuss your deals!
@Charles Jones Is the funding request for 1608 Coventry Road still active? To assess a possible first-position loan, we'd need the purchase price, rehab scope, supported ARV, requested loan amount, property type and closing timeline. We work through direct private lender relationships, with a standard $75K loan minimum. Feel free to DM me the deal summary and any supporting document... What's the timeline?