Real Estate / Flip Housing Loan
Get a Real Estate or Flip Housing Loan
House flipping is growing in popularity as a potentially lucrative investment opportunity. Buying and renovating homes to sell them allows an investor to take advantage of low upfront pricing before attempting to upgrade and sell them for a profit. The opportunity for a substantial return on investment is an alluring feature of flipping houses, but you need the capital to ensure your purchase and renovation costs are covered. J. L. Lane Lending, LLC has helped a multitude of investors with our secured real estate or flip housing loans. A fix and flip loan is secured by real estate. A hard money loan is an ideal method of funding these projects since the financed properties are in need of rehabilitation, and the investors buy, renovate, and sell them within one year.
Getting a Line of Credit for a Fix & Flip Investment Property
A line of credit (LOC) for an investment property is similar to a home equity line of credit (HELOC). The LOC works like a credit card, so you only pay interest on the money you spend. You can use this type of LOC for fix-and-flip purchases and renovations, and it’s specifically used for short-term cash needs. You can only draw an investment property line of credit from a non-owner-occupied property. However, getting a single-asset investment property LOC or a LOC for a portfolio investment property is possible. When filling out the application, you are required to outline how you intend to use the line of credit. But, once it’s funded, you can typically use the LOC for whatever you want.
Fix & Flip Bridge Loans
Fix and flip bridge loans are temporary loans that cover the time between separate real estate transactions. Investors will often use them to purchase a property before selling another one. A bridge loan allows an investor to purchase his or her next fix-and-flip property without the requirement of selling the current property first. However, they differ from hard money loans because investors cannot finance their renovations with fix and flip bridge loans.
Secured Lending for Your Investments
Whatever type of loan your investment activities require, J. L. Lane Lending, LLC is ready to help you get the funds you need with the proper collateral. Our lending services are available to businesses in Alabama. Give us a call today to get answers to your inquiries and discuss a secured fix & flip loan with a member of our team.