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Fix and Flip Loans in Ramona, South Dakota
A total of 16 records for fix and flip lenders were found in Ramona, SD. Loan amounts average approximately $348,215. Rates for private loans average about 10.6%. The typical note issued in the city is for 25 months. The average origination percentage charged for loans is 4.0%. The mean loan to value for loans in Ramona is 78%.
Loan Example 1
Lucy closes on a $340,000 rehab project in Ramona, SD, using a fix and flip loan from Top Dog Investment Corporation. The borrower will have to fund 20% of the sales price in cash to the closing based on a 80% loan to value set by the lending company. This makes the principle amount from Top Dog Investment Corporation $272,000. The terms of the deal dictate a 9% note for 18 months. They also require a 1 point origination fee, that will also need to be paid when the property closes.
On top of the $2,720 origination fee, Lucy will also need to fund $68,000 of the purchase with her own cash, or 20% of the sales price. After the deal closes, she will need to pay the lender $2,040 in monthly interest payments, or 9% times $272,000 divided by 12 months in the year. Assuming Lucy sells the renovated project for $510,000 at the end of the 18 month term, her gross profit (not including rehab expenses) would be $130,560. This is calculated by taking the sales price ($510,000) and subtracting the original principle ($272,000), the origination fee ($2,720), the funds she contributed to closing ($68,000), and the total interest expenses ($36,720).
Loan Example 2
Oak Hill Funding Company issues a private money loan to Anthony for a renovation project in Ramona, SD. The loan includes the following:
$350,000 purchase price
80% loan to value (LTV)
12 month term
14% rate of interest
1% origination fee
After the rehab project is completed, if Anthony sells the property for $525,000, the outcome would be as follows:
$525,000 sales price
- $280,000 principle (80% LTV)
- $70,000 cash paid at closing (20% on 80% LTV)
- $2,800 origination points (1% of the $280,000 principle amount)
- $39,200 interest payments (12 months x 14% interest)
-----------------------
= $133,000 gross profit (does not include taxes or rehab 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 ...
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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