Convenient Fix and Flip Loans in Colorado Springs
Fixing and flipping a property is a highly profitable venture if you do it right. Many homes and commercial spaces available today have a lot of potential but are in a poor state. You can invest some money to renovate the property and sell it for a good profit. At Abbey Mortgage & Investments, we offer tailored fix and flip loans in Colorado Springs to help you with these projects.
What are Fix and Flip Loans?
Fix and flip loans are financial products that cover the costs of acquiring a property and renovating it. You can use the loan money to purchase a poorly maintained house and buy the resources to transform it. Traditional loan offerings only cover one or the other so investors are often forced to apply for two different loans, which can cause delays and even stall the project. Sometimes you get a loan to buy the property but not to renovate it.
Our fix and flip loans in Colorado Springs are designed to ensure you have all the resources you need to finish a project successfully. We focus on the investment and its potential instead of your financial history so we are invested in your success.
Types of Fix and Flip Loans
Our experts will recommend customized solutions based on your requirements. You can choose between the 90/70, 80%, or 70% program. We cover 90% of the acquisition costs and 70% of the renovation costs in our 90/70 program. With the 80% or 70% programs, we pay the aforementioned amounts while you pay 20% or 30% out of your pocket for the project. Our experts are willing to explain these options in detail so you can make an informed choice.
If you’re looking for some expert advice or need fix and flip loans in Colorado Springs, we at Abbey Mortgage & Investments can help. Contact us today to get a customized plan for your requirements.