more about fix and flip loans in philadelphia

Fix and Flip LoansThe Fix and Flip Loans are available to • Those who own investment property

or fully plotted lot in need of capital for construction.

• Those who want to purchase and renovate an investment property in order to sell it for profit.

• Those who own investment property desiring to leverage that property for any reason.

5 Things You Need To Know About Fix And Flip Loans

There are some points you should thoroughly consider before applying for any type of fix and flip loans.

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The fix and flip loans applicant must have all the property related papers in order and it should be clear title property, disputed properties .

1.Keep Property Papers In Line

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It is generally not more than 13 months that’s why most of the traditional banks in Philadelphia will not bother with fix and flip loans.

Time Limit

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Most of the fix and flip loans have very short repayment term, mostly less than a year.

2.Time Limit

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So make sure that you have studied the property and the Philadelphia housing market projections very carefully before applying for flip flop loans.

Property Value

Age

Location

Market

Condition

?

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Since fix and flip loans are leveraged against the value of the property you are flipping make sure you have selected the right property.

3.Find Right Property

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Since you have very limited time to pay back your fix and flip loans, your property locality and housing market conditions matter a great deal.

Find Right Property

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So interest rates for fix and flip loans can rage anywhere between 8-16%.

4.Interest Rates

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while choosing a lender in you also need to consider the interest rate because after paying all the said dues, you should be able to make substantial profit.

Interest Rates

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Whether Philadelphia or any other city of the country, you will get Fix and Flip Loans only up to 65% of your purchase cost of your property.

5.Get Down Payment Ready

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In some cases like purchasing and then developing the property you will need to pay about 20% money as down payment from your own pocket.

Down Payment

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Hope you found this information useful for you. We provide funding solutions NATIONWIDE. Visit our website :

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