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Fix and Flip Loans in Colman, South Dakota
A total of 16 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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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 ...
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 ...
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. ...
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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