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Fix and Flip Loans in Chester, South Dakota
Chester, SD has 16 fix and flip lenders issuing loans in the city. Loan amounts average around $376,429. Rates on loans issued to Chester investors average around 11.8%. 21 months is the average length for notes issued in this city. The mean origination fee applied to loans is 4.7%. Lenders typically offer a 72% loan to value on loans in Chester.
Loan Example 1
Michael finds a condo in Chester, SD to renovate and re-sell. Since he doesn't have enough cash on-hand to acquire the $240,000 project outright, he decides to take out a hard money loan from Smith Funding Corporation. The loan to value (LTV) on the loan is 50%. This means Michael will need to bring 50% of the purchase price to closing and the principle will be $120,000 on the loan. The terms of the loan also stipulate a four percent origination fee that is to be paid at closing and a 6 month, interest-only note with a 11% interest rate.
According to the parameters of the loan, Michael will need to contribute a $4,800 origination fee plus 50% of the purchase price, or $120,000, since there is a 50% LTV. he will then pay $1,100 per month to Smith Funding Corporation. If Michael sells the property for $336,000 after 6 months, he would realize a gross profit of $84,600 after deducting the principle of $120,000, the cash contributed at the close of $120,000, the origination points of $4,800, and the total interest payments of $6,600. This amount doesn't include building costs.
Loan Example 2
Ted is a an investor in Chester, SD. He finds an older townhouse for a rehab project and takes a private money loan from Blue Mountain Finance with the following features:
a) A $260,000 sales price, b) a 70% loan-to-value (LTV), c) a 12 month term, d) a 13% interest rate, and e) a 2% origination fee.
If Ted succeeds in his goal of a $351,000 sales price, the outcome of the deal would be as follows:
$351,000 sales price
- $182,000 principle on note (70% LTV)
- $78,000 down payment (30% on 70% LTV)
- $3,640 origination points (2% of the $182,000 principle)
- $23,660 interest payments (12 months x 13% interest)
-----------------------
= $63,700 total profit (doesn't include taxes or renovation costs)
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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 ...
Roc Capital
645 Madison Ave
New York City, NY 10022
Headquartered in New York, NY, Roc Capital is a lender offering loans all across the United States. They offer fix-and-flip loans, private refinancing, bridge loans, and commercial loans. Their loan guidelines are flexible, including rates starting at 7.49% , loan ...
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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