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Fix and Flip Loans in Yankton, South Dakota
There are 16 fix-and-flip lenders operating in Yankton, SD. The median loan amount is $333,334. Rates for hard money loans average 11.2%. The typical note issued in this city is 21 months in length. The average origination fee charged on the loans is 2.5%. The typical loan-to-value (LTV) offered for loans in Yankton is 80%.
Loan Example 1
Hilda takes a private money loan from J & T Finance Corporation in order to remodel a townhouse to flip in Yankton, SD. The sales price of the property is $360,000. The lender agrees to write a note with a 85% loan to value (LTV) so they will extend $306,000 on the property. The interest rate on the loan is 12% for a length of 6 months and the company requires a three point origination fee at the closing. The interest is to be paid monthly and the principle amount will be repaid after the sale of the property.
Hilda will need to contribute $54,000 to the closing (15% on the 85% loan-to-value), plus she will have to pay the $9,180 origination fee. After the deal is executed and Hilda takes over the project, she will have to begin making monthly payments of $3,060 to J & T Finance Corporation ($306,000 principle x 12% / 12 months). At the expiration of the note, she sells the renovated property for $540,000. After subtracting the $18,360 in total interest payments ($3,060 times 6 months), the $9,180 origination fee, the $306,000 principle amount on the note, and the $54,000 she brought to closing, she will make a total profit of $152,460 ($540,000 sales price minus $387,540 in total costs). This amount would be reduced by any renovation costs paid by the borrow.
Loan Example 2
Mitchell finds a house in Yankton, SD to remodel and sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Redwood Lending Corporation with the following parameters:
$310,000 purchase price
55% loan to value (LTV)
12 month term
13% interest rate
1% origination fee
If Mitchell accomplishes his goal of a $465,000 sales price, the final numbers of the project will be the following:
$465,000 sales price
- $170,500 principle on note (55% LTV)
- $139,500 cash paid at closing (45% on 55% LTV)
- $1,705 origination points (1% of the $170,500 principle amount)
- $22,165 total interest paid (12 months x 13% interest)
-----------------------
= $131,130 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 ...
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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