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Fix and Flip Loans in Wanblee, South Dakota
There are 16 fix-and-flip hard money lenders operating in Wanblee, SD. The average note issued is about $382,500. Rates on private loans made to Wanblee borrowers average about 11.7%. The median length offered for loans is 34 months. A typical hard money loan made in the city carries a 3.3 point origination charge. Lenders in Wanblee average a 71% loan to value on their loans.
Loan Example 1
Tamara finds a house in Wanblee, SD to remodel and resell. Since she doesn't have enough cash on-hand to acquire the $390,000 house outright, she decides to take out a hard money loan from Fortune Lending Corporation. The terms of the note include a 85% loan to value (LTV), so she must bring 15% of the price as cash to closing, which makes the principle loan amount $331,500. The loan is interest only, paid monthly, and is for 6 months at 13% interest with 2 origination points to be paid at closing.
Therefore, Tamara will need to make a $58,500 down payment plus pay a $6,630 origination fee. After the loan is closed and Tamara takes the property, she will have to begin making payments each month of $3,591 to the lender ($331,500 principle x 13% / 12 months). If Tamara sells the project for $565,500 after 6 months, she would earn a gross profit of $147,323 after subtracting the principle amount of $331,500, the funds paid at the close of $58,500, the origination fee of $6,630, and the aggregate interest payments of $21,548. This gross profit doesn't include renovation costs.
Loan Example 2
Jorge locates a property in Wanblee, SD to renovate and re-sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Top Notch Funding Corporation with the following parameters:
$270,000 purchase price
50% loan-to-value (LTV)
6 month term
10% rate of interest
3% origination fee
If Jorge achieves his goal of a $337,500 sales price, the numbers of the project would be as follows:
$337,500 sales price
- $135,000 principle (50% LTV)
- $135,000 cash paid at closing (50% on 50% LTV)
- $4,050 origination fee (3% of the $135,000 principle amount)
- $6,750 total interest paid (6 months x 10% interest)
-----------------------
= $56,700 gross 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
Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
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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