With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Fix and Flip Loans in Colman, South Dakota
A total of 18 results for fix-and-flip lenders were found in Colman, SD. Loan amounts average approximately $528,889. The average interest rate for loans in Colman is 10.1%. The typical term offered for loans is 29 months. The average points applied to loans is 1.8%. Lenders in Colman average a 73% loan to value (LTV) on their deals.
Loan Example 1
Walter closes on a $280,000 rehab project in Colman, SD, using a fix-and-flip loan from Victory Investment Corporation. The terms of the deal include a 55% loan to value (LTV), so he must contribute 45% of the price as cash to closing, which makes the principle note amount $154,000. The deal also has the following features: 1) a 18 month length, 2) a 8% interest-only note, and 3) a five percent origination fee.
According to the terms of the deal, Walter will be required to pay a $7,700 origination fee in addition to 45% of the sales price, or $126,000, since there is a 55% LTV. After the deal is executed and Walter takes on the project, he will begin making payments each month of $1,027 to Victory Investment Corporation ($154,000 principle x 8% / 12 months). Assuming he sells the renovated house for $392,000 at the end of the 18 month term, his total profit (not accounting for remodeling expenses) would be $85,820. This is calculated by taking the purchase price ($392,000) and subtracting the original note amount ($154,000), the origination cost ($7,700), the funds he brought to closing ($126,000), and the total interest payments ($18,480).
Loan Example 2
Erin finds a duplex in Colman, SD to rehab and sell. Since she does not have enough cash to buy the property outright, she takes a fix and flip loan from Brook View Funding Corporation with the following parameters:
$390,000 purchase price
75% loan-to-value (LTV)
12 month term
11% rate of interest
1% origination fee
Erin plans to list the house when the note expires for $546,000. If she achieves this goal, the outcome will be the following:
$546,000 sales price
- $292,500 loan principle (75% LTV)
- $97,500 cash paid at closing (25% on 75% LTV)
- $2,925 origination fee (1% of the $292,500 principle amount)
- $32,175 total interest paid (12 months x 11% interest)
-----------------------
= $120,900 total profit (doesn't include taxes or renovation costs)
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Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
With more than $21B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data & technology to offer REIs a simpler, more reliable, and faster way ...
Harbor Private Equity
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Atlanta, GA 30309
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Dominion Financial
32 S Street
Baltimore, MD 21202
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Secured Investment Lending
1485 International Parkway, Suite 1031
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Center Street Lending
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National Advance Group
1 Linden Place
Great Neck, NY 11021
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American Land and Capital
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
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Velocity Mortgage Capital
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AMUSA Commercial Capital
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ABC Capital Investments
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Gokapital Mortgage
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Aegis Funding
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Quickline Capital Partners
4713 Crossroads Park Drive Suite 101
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