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Fix and Flip Loans in Watertown, South Dakota
There are 16 records for fix and flip hard money lenders serving Watertown, SD. Note amounts average about $343,750. Interest rates for loans average about 10.6%. The mean length for loans is 20 months. The average origination for loans is 3.9 points. Lenders offer on average a 78% loan to value on deals in Watertown.
Loan Example 1
Howard is an investor in Watertown, SD. He finds an older property and decides to remodel it and flip it for a profit. The property costs $220,000 but he does not have the full amount so he obtains a fix and flip loan with Capable Lending Corporation. Because the lender agrees to a 50% loan to value, Howard will need to put 50% down and the amount of the note will be $110,000. The deal also includes these features: 1) a 18 month term, 2) a 12% interest-only note, and 3) a three point origination fee.
Howard will have to contribute a total of $32,400 up front to cover the $110,000 down payment in addition to the $3,300 origination fee. After the deal is executed and Howard takes on the project, he will have to begin making monthly payments of $1,100 to Capable Lending Corporation ($110,000 principle x 12% / 12 months). If Howard sells the property for $264,000 after 18 months, he would earn a gross profit of $20,900 after subtracting the principle amount of $110,000, the money paid at closing of $110,000, the origination points of $3,300, and the total interest payments of $19,800. This gross profit does not include renovation costs.
Loan Example 2
Rehabbers Finance Corporation makes a fix and flip loan to Phillip for a renovation project in Watertown, SD. The deal dictates the following:
a) A $230,000 sales price, b) a 65% loan-to-value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 3% origination fee.
Phillip plans to sell the project when the note expires for $333,500. If he accomplishes his goal, the deal numbers would be the following:
$333,500 sales price
- $149,500 loan principle (65% LTV)
- $80,500 down payment (35% on 65% LTV)
- $4,485 origination fee (3% of the $149,500 principle amount)
- $22,425 interest payments (18 months x 10% interest)
-----------------------
= $76,590 total profit (does not include taxes or renovation costs)
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
American Land and Capital
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
Stratton Equities is the Leading Nationwide Direct Private Money & NON-QM Mortgage Lender that specializes in fast and flexible lending processes. We have the largest library of private money and NON-QM nationwide loan programs under one roof. Our team is ...
Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
REI Capital
5660 Strand Court
Naples, FL 34110
REI Niche Programs - CA NO appraisal 1st position loans - 65% LTV; 2nd position loans - 60% CLTV, NO minimum FICO, Defaults, foreclosure bail-outs, and bankruptcies OK, 6 mo prepay, cross multiple properties, Rural lower LTVs on a case-by-case ...
AMUSA Commercial Capital
301 Commerce Street Ste. 1420
Fort Worth, TX 76102
AMUSA Commercial Capital is a Dallas, TX based private money lender. They provide funding throughout the country. Their lending focus is mainly on non-bankable commercial real estate loans and Investment 1 to 4 loans. Their loan guidelines are flexible, including ...
ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
Gokapital, Inc. is a Miami, FL based private lender who provides funding all throughout the US.Providing lending solutions for a variety of situations, including loans for rental properties, cash out, hard money loans, fix-and-flip loans, hard money loans for commercial ...
Aegis Funding
2100 Main Street, suite 265
Huntington Beach, CA 92648
Aegis Funding is hard money lender based in Huntington Beach, CA. They provide loans throughout California. They offer lending solutions for a variety of needs and situations, including fix and flip loans and long term rental property loans. They issue ...
Quickline Capital Partners
4713 Crossroads Park Drive Suite 101
Liverpool, NY 13088
Quickline Capital Partners is a Syracuse, NY based private lender providing loans across the US. They offer loans for a variety of scenarios, including fix and flip loans and commercial hard money loans. Their lending parameters are flexible, including terms ...
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