04/27/2022
UNLIMITED FUNDS FOR YOUR REAL ESTATE DEALS!!!
UNLIMITED FIX & FLIP FUNDS WILL EXPLODE YOUR BUSINESS!
It's known as an Exposure Line of Credit. This is a great tool for any real estate investor that does multiple deals per year. It allows you to have the funds available, sitting there waiting for your next deal. It prevents you from having to run around and scramble for the money every time a deal comes along.
Depending on which lender we use, the LOC can be used for multiple deal types including new construction, bridge, build-to-rent, fix and flip and rentals.
Average approval time from initial submission to borrower approval is 10 days.
One time underwriting process for the borrower. This means that once you're approved we will need to underwrite only the property before they fund each deal. We won't need to underwrite you, the borrower again until the term expires.
If qualified, you can get approved for up to 7x's what you can verify in liquid funds.
Typical requirements are: (Criteria is really just FICO score & number of completed deals as noted below)
* 680+ FICO minimum for one of the lenders
* 620+ FICO absolute minimum with another but higher rates, 640+
minimum for a better rate (must be 640+ on all 3 credit bureaus)
* 3-5 verifiable deals experience last 36 months months; 6+ deals
gets better terms
Note: If you use someone else that has a higher FICO in order to qualify, they will need to be a member and the majority owner of the LLC. This is pretty common as many investors have low FICO scores. Not all lenders will allow this.
Summary of LOC:
* Qualify for up to 7x's liquidity (credit limits for deals: $75k
-$5MM)
* Term is 2 years - Interest rate and replenishing funds are locked in
for the term
* Interest only monthly payments on amount drawn for purchase
and to fix and flip the property
Once approved, the client submits a property and rehab budget form to the lender. The lender will then start the inspection and appraisal process (BPO is faster)
Again. This is a great funding option for any investor that does deals on a regular basis. It completely eliminates the need to scramble for funds every time a great deal comes along.
If you don't apply for one of these LOC's now, you're severely handicapping your business's growth and limiting your potential.
Just imagine having a virtually unlimited source of funding to buy and flip as many properties as you want on a regular basis without the added stress of scrambling for money every time a great deal comes along! How great would that be?
Reach out to me directly with PM or click this link to get started immediately: https://bit.ly/FundmyfixandflipsMG
OR schedule a call with me https://calendly.com/petereiseman-1
&fliploans
