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Fix and Flip Loans in Pierre, South Dakota
We found 16 search results for fix and flip hard money lenders operating in Pierre, SD. The mean note amount is $425,000. Interest rates for private loans average 11.8%. The average term offered for loans is 24 months. The average loan includes a 4.4 percent origination fee. Lenders typically offer a 73% loan to value on deals in Pierre.
Loan Example 1
Nell is a house flipper in Pierre, SD. She discovers a run-down property for sale and decides to remodel it and flip it for a profit. The house has a cost of $160,000 but she doesn't have the full amount so she takes out a private money loan with North Side Funding Corporation. The terms of the note include a 70% loan-to-value (LTV), so she must contribute 30% of the price as cash to closing, which makes the principle note amount $112,000. The interest rate on the loan is 11% for a length of 18 months and the company requires a two point origination fee at the close. The interest is to be paid monthly and the principle will be returned after the property sells.
Nell will need to contribute $48,000 to closing (30% on the 70% loan to value), plus she will need to pay the $2,240 origination fee. she will then pay $1,027 monthly to North Side Funding Corporation. At the end of the note, she sells the renovated house for $224,000. After subtracting the $18,480 in interest expenses ($1,027 multiplied times 18 months), the $2,240 origination fee, the $112,000 principle amount on the note, and the $48,000 she contributed to the closing, she will make a total profit of $43,280 ($224,000 sales price minus $180,720 in total costs). This profit would be reduced by any rehab costs paid by the borrow.
Loan Example 2
Suburban Finance Company issues a fix and flip loan to Victor for a renovation project in Pierre, SD. The deal dictates the following:
a) A $210,000 purchase price, b) a 85% loan to value (LTV), c) a 12 month term, d) a 13% interest rate, and e) a 4% origination fee.
After the renovation project is completed, if Victor sells the property for $304,500, the outcome would be as follows:
$304,500 sales price
- $178,500 principle (85% LTV)
- $31,500 down payment (15% on 85% LTV)
- $7,140 origination points (4% of the $178,500 principle)
- $23,205 interest payments (12 months x 13% interest)
-----------------------
= $64,155 gross profit (doesn't include taxes or rehab 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
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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