Colorado Fix-and-Flip Loans
You may be an avid fan of the plethora of fixer-upper TV shows. Fixer-uppers and fix-and-flip deals are hot right now, making it critical that you have the right lending partner. Abbey Mortgage and Investments has decades of experience lending to investors just like you! We are more than a lender, we offer advice and even mentor our investors to ensure their Colorado fix-and-flip loans work for them.
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Why Abbey Mortgage For Your Colorado Fix-and-Flip Loans?
With years of experience in real estate investment lending, you can trust Abbey Mortgage to find a private financing option to satisfy your unique lending needs and circumstance. It is effortless, contact us and ask for some advice and what we can do to help. You can also ask those questions that are keeping you up at night. We will review your deal and discuss your goals and plans. Once we have you on the right path, we can discuss how we can help to get you a mortgage for an investment property.
I Have Bad Credit, Can I Get a Fix-and-Flip Loan?
We view the money we loan as an investment into Colorado investors. We love helping to fulfill their dreams of becoming successful fix-and-flip entrepreneurs. We are here for you when you need fast money. Getting money for investment deals can be even quicker once you have a track record with us. Abbey Mortgage has loans available that are often the fastest and surest way to have the funds to acquire property and rehab a property. Traditional underwriting will usually take too long for great deals where sellers are highly motivated. Delays can cause your fix-and-flip deal to fall apart, losing out on a potential goal mine of profit.
Fix-And-Flip and Rehab Projects
Calling Abbey Mortgage is the best way to get started with securing your Colorado fix-and-flip loans. Using Abbey Mortgage is perfect for getting the money you need fast. Our loans are asset-based, which means that our process varies significantly from banks. We have a lot fewer regulations and red tape. Abbey Mortgage & Investments in Colorado is easy to work with and can get you the money you need — fast. Call us today to learn more.
Why Is a Private Loan Better For My Fix-and-Flip?
Professional real estate investors who seek out private financing range in regard to their interests and specialties. However, private loans make up a healthy portion of the loans provided to house flippers. Many investors fund their deals this way because they can borrow a high percentage of their purchase price and restoration costs. If you are a confident investor that can buy properties, turn them around for a big profit, you will be a rock star in this industry, and we want to work with you. We can help you with your endeavors. We base our loans on a properties new and improved value. We offer loan extensions, and we can even help you roll the loan into a longer-term loan if you choose to fix and hold the property.
The basics of Colorado Fix-and-Flip Loans
As previously mentioned, when real estate investors need Colorado fix-and-flip loans, they know Abbey Mortgage can help them get the money they need, and they can get it fast. When purchasing an investment property, you may be worried about your credit, income history life events such as bankruptcy or foreclosures. Abbey Mortgage offers private loans for investors, and we understand that not everyone will have perfect grade A credit. Even with these sorts of issues, if you have a solid deal, a good plan, and we believe you can complete the project successfully, we will probably be able to help. The bottom line, serious real estate investors know to call us, and you should call us too.
Fix-and-Flip Loans in Colorado
Currently, there are huge opportunities for a fix and flip investors and fix and hold investors in both Colorado commercial and residential properties. Our experience in this strong Colorado market niche makes our private loans the perfect complement in this fast-moving area of investment. Fix-and-Flip, within the residential real estate world, is known as renovations or repositionings in commercial real estate. Our experience with these properties makes Abbey Mortgage an excellent source of financing. Importantly, our loan costs are upfront, without the “gotcha” fees buried deep in the loan documentation. Call or email Abbey Mortgage & Investments today and let’s discuss your opportunities and particular situation. We will gladly discuss how we can help you achieve your maximum return, whether you plan to fix-and-flip or even fix and hold.
Our Fix and Flip Loan Programs
Easy In Fix and Flip 90/70 Program
The Easy In Fix and Flip 90/70 Program makes the acquisition a breeze. We will lend 90% of the acquisition price plus 70% of the fix-up cost of your fix and flip property. You provide the rest. The cost of this private money loan is typically 13% interest plus points and closing costs. Our loan terms provide a full year of interest-only payments, reducing the pressure to sell the home in an arbitrarily short time period. You also avoid sneaky fees in the fine print of some other Colorado hard money lenders’ programs, which are added into your payoff. Just pay our monthly interest on time and you are on the road to another profitable flip.
80% Loan to Cost Fix and Flip Loan
The 80% program is as simple as it gets. We will lend 80% of the Acquisition Price plus the fix-up cost of your fix and flip property. You provide the rest. The cost of this house flipping loan is typically 12% interest plus points and closing costs. Our loan terms provide a full year of interest-only payments, giving you the time to make a smart and calculated decision. You also avoid sneaky fees in the fine print of some other hard money lenders’ programs, which are added into your payoff. Just pay our monthly interest on time and you are on the road to another profitable flip.
70% Loan to Cost Fix and Flip Loan
The 70% program is fairly straight forward. We will lend 70% of the acquisition price plus the fix-up cost of your fix and flip property. You provide the rest. The cost of this loan is typically 10% interest plus points and closing costs. Our loan terms provide a full year of interest-only payments, reducing the pressure to sell the home in an arbitrarily short time period. You also avoid sneaky fees in the fine print of some other hard money lenders’ programs, which are added into your payoff. Just pay our monthly interest on time and you are on the road to another profitable flip.
Mini-Perm Loans – Fix and Hold
Not everyone wants to fix and flip every property they renovate. As a local private mortgage company, we can adjust to your needs. If you are wanting to fix and hold, we have you covered. Today’s underwriting standards can make permanent refinance or the prospect of selling a dismal experience. Our mini-perm private money loans will go out to three years in duration and provide for monthly amortizing payments until the balloon based on up to a 20-year amortization. Rates are quoted on a deal by deal basis but are intended to provide a cash flow cushion from the property. These hard money loans apply to any income-producing investment property.
Why Choose Abbey Mortgage for Your Colorado Fix-and-Flip Loans?
The simple answer is we have the experience to help you navigate the tricky world of real estate investing. Buying, fixing, and reselling properties can be very lucrative, but it will also take money. Fix-and-flip deals are not the same as buying a primary owner-occupied house. You not only need to purchase the property; you will also need funding for the renovation. Beyond looking at your deal with you and seeing if it makes sense, we can also help you wrap your head around other related costs. For example, you will also need to consider property taxes, utilities, and insurance. These will all need to be in effect on day one and be maintained until you sell or refinance the property. You should also always consider capital gains taxes. Capital gains taxes can range from 10% to 37%, depending on your federal tax bracket.
Our insight into the market and our creative perspective can be the difference between a successful investment and the pain of a failed venture. You need the insight Abbey Mortgage and Investments brings to the table to help you avoid unseen pitfalls.
Call Abbey Mortgage & Investments, Inc. at 970-532-4243 now, or fill out this form for a consultation and a no-cost evaluation of your project and loan needs.