Texas hard money & rehab loans for flips
& Rental acquisitions (typically value add type properties)
Our Mission: Since 2004, A Texas based (Dallas,TX based) rehab hard money ,private funding and investment (flips and rentals) property funding - by providing private(asset based, non credit driven loans) based -hard money loans in Texas, specifically Dallas & Fort Worth, Austin, Houston and San Antonio being a focus. , (RESIDENTIAL INVESTMENTS AND COMMERCIAL PROPERTY IN TEXAS)
**UPDATE (July 2020) - Small Hard money loans (available now)- to 40k available. 12% and 2k origination fee min, 2% is std fee for 12 months - always fast closings
**ask about our "rehab to rental" loans , know how acquire, rehab and create a "landlord" loan.
ask about lower rates for experienced borrowers (4 + flips in last 18 months)
*** quick funding - no appraisals on loans under 250k, we move fast, but on these smaller loans we expect borrowers to put up 10% min of total cost.
Our std. program is for fast closes . Closing can occur in as little as 3 days with no appraisal prior to closing. 12% and 2 points and 12 months is good for 100k + loans , (note we can extend for 90 days if you need 12 months for title seasoning (for long term loans) .
Typical structure is 80 - 90% of purchase price and 100% of repairs
**ASK ABOUT LONG TERM "LANDLORD" LOANS - RATES START IN 6'S
Nationwide Rehab and Hard Money available. (Nationwide programs from 8% for experienced flippers and good reserves(cash)
*** True asset based lending in Texas- Deal and property driven - not borrower credit and income driven - we can fund hard money with no bank statements or tax returns*********
PURCHASE MONEY- CASHOUT - REFINANCE- LET US SOLVE YOUR FUNDING PROBLEM WITH PRIVATE-HARD MONEY MORTGAGES- FINANCING -REHABS-FIX & FLIP
Equity and Gap Funders ok on our loans
What makes us different ? - Speed,Flexibility and Simplicity- not beholden to private fund rules , bank rules or anyone but the agreement of our internal underwriting and investors in our company.
What if you decide to rent (REHAB TO RENTAL) the property? Let us take out your hard money for your rental loans (long term or short term for acquisition) from 6.5 for-% 30 years - based on cash flow,then credit ( NON BANK LOANS FOR Challenged credit, income or you just have too many loans for conventional (Fannie Mae and Freddy Mac guidelines)
hard money cashouts for investors - we are flexible and creative as long as investors collateral meets ltv standards
New****** Spec Construction loans from 80% of cost of project - your free and clear lot or other collateral (more)
(will take you to the 2 step Texas Rehab Application Process)
Loans and Process
NEW HARD MONEY PROGRAMS and STANDARD LOAN PROGRAM HIGHLIGHTS :
The Standard Hard Money Loans: 70%-75% ARV, loan must include purchase and repairs , any difference is paid by borrower. 6 - 12 months
1.Std hard money - 70% ARV , min 5% down of project cost , close 10 days +-
2.(QUICK CLOSE ) : For borrowers who wish to fund thier own repairs. 20% down , 80% OF "AS IS VALUE OR PURCHASE PRICE if a refinance. No Appraisal needed.
3. Spec construction Homes and High End rehab (500k - 2 milion) non recourse. 75-80 % LTC - under 9% - non recourse available (rates 8- 12) , 12% for ground up construction (DFW ,Austin,ask about other metro areas.
4. (NO Cash needed ) CROSS COLLATERALIZE OTHER PROPERTY - NO MONEY OUT OF POCKET
Some ideas and uses of our Texas Hard Money Loans:
1. Loans for foreclosures or distressed properties. (many will need repairs and quick closes , both of which banks will typically be unable to fund)
2. Loans for rehab - that may include repairs, loans to LLCs and various entities.
3. Cashout loans on investment property , typically up to 70% LTV(case by case) , inherited propery, cross collateral other Texas Investment Properties for a loan
4. *****NON RECOURSE LOANS TO SELF DIRECTED IRA ACCOUNTS (PURCHASE PROPERTY IN YOUR IRA OR INVEST IN OUR LOANS WITH YOUR IRA)
5. Blanket loans ,recourse bridge and non-recourse permanent loans from $500,000 to over $20 million for portfolios with a minimum of five (5) properties, but includes no upper limits on the number of properties in a portfolio.
***CONSULTING ON PROPERTY ACQUISITION- Foreclosure, Tax Liens, HOA judgements, more..bring us the deal
We review your hard money loan scenario from start to finish and take every measure to make sure our borrowers enter into a profitable deal. We can be creative and discuss methods of acquiring property using other collateral, longer loan terms and more. Use our Hard Money Profit Analyzer to make sure your deal is profitable.
Texas hard money/private loans for investors are funded with our own capital and private individuals . We have personally invested many of our loans and investments as well. We are fast.
We are investors ourselves and understand the needs of the investor as well as the lender. We provide a conduit to many private investors willing to fund your acquisition and repair of investment real estate in Texas.
Ask us how to use these simple transactions in building a rental portfolio with little down. We call it rehab-to-rental. We simply convert the short term hard money loan to a permanent mortgage. *************Dont forget about your long term financing needs for investment property. We have a conventional mortgage branch for bank-low rate needs.
Read more (link to guidelines)