“Fix and flip” property loans have grown tremendously over the past couple of years as people seek to invest in real estate to take advantage of the additional income opportunities. The loans differ from those where a property is purchased with the intention of one day selling it. With a fix and flip, the purchased property is typically distressed and run down and the investor seeks to renovate it with the purpose of immediately selling it for a much higher price than it was originally purchased for.
It can be tough to obtain funding for a fix and flip through traditional means, and paying for it out of pocket is risky. Most banks refuse to provide long-term financing for a fix and flip nor will they offer short term loans as their returns are largely centered long-term mortgages.
Most fix and flip properties are sold about a year after they’ve been bought. In this case, a hard money lender like M&M Private Lending, LLC becomes the solution to obtain short-term funding. With competitive rates and no requirements involving tax returns, bank statements, or credit score, we can help you with your fix and flip project.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.