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Nation’s fastest and easiest private real estate lender - Funding Fix and Flip, Ground-Up Construction, and DSCR. Closing as fast as 5 business days!
Nixon, NV has 50 private money lenders operating within the city. The mean loan made is around $359,375. The mean interest rate for private loans in Nixon is 10.1%. The median note issued in this city is for 35 months. The mean loan includes a 2.9 point origination charge. Lenders typically offer a 73% loan to value on deals in Nixon.
Tim finds a house in Nixon, NV to flip and re-sell. Since he doesn't have enough cash to acquire the $280,000 house outright, he decides to take out a private money loan from Johnson Finance. The borrower will be required to fund 45% of the sales price in cash to the closing based on a 55% loan to value set by the lending company. This makes the principle note from Johnson Finance $154,000. The rate on the note is 9% for a length of 6 months and the lender requires a one point origination fee at the close. The interest payments are to be paid monthly and the principle amount will be repaid after the sale of the property.
In addition to paying the $1,540 origination fee, Tim will also fund $126,000 of the purchase with his own money, or 45% of the sales price. Johnson Finance will collect $1,155 in monthly interest from the borrower. This is computed by taking the total note value of $154,000, multiplying by the 9% interest rate, and then dividing that number by 12. At the end of the note, he sells the renovated house for $392,000. After subtracting the $6,930 in total interest payments ($1,155 multiplied by 6 months), the $1,540 origination fee, the $154,000 principle amount on the note, and the $126,000 he brought to the closing, he will earn a gross profit of $103,530 ($392,000 price minus $288,470 in total costs). This profit would be reduced by any renovation costs paid by Tim.
Francisco is a real estate investor in Nixon, NV. He purchases an older house for a rehab project and takes a hard money loan from Big Lake Investments with the following features:
$280,000 sales price
50% loan-to-value (LTV)
12 month term
8% interest rate
5% origination fee
Francisco plans to sell the property at the end of the term for $364,000. If he accomplishes his goal, the deal numbers will be as follows:
$364,000 sales price
- $140,000 principle on note (50% LTV)
- $140,000 cash paid at closing (50% on 50% LTV)
- $7,000 origination points (5% of the $140,000 principle)
- $11,200 interest payments (12 months x 8% interest)
-----------------------
= $65,800 total profit (does not include taxes or renovation costs)
Nation’s fastest and easiest private real estate lender - Funding Fix and Flip, Ground-Up Construction, and DSCR. Closing as fast as 5 business days!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
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Emory Funding is an asset-based lender in Las Vegas, NV providing loans throughout Nevada. They offer fix and flip hard money loans, commercial loans, bridge loans, and refinancing. Their loan guidelines are flexible, including loans with ...
Socotra Capital is a private lender headquartered in Sacramento, CA providing loans throughout California and Nevada. They provide lending solutions for a variety of scenarios, including private refinancing, construction loans, commercial hard money loans, bridge loans, loans for investments ...
Broadmark Capital is private lender based in Seattle, WA. They provide funding in Arizona, Colorado, New Mexico, Nevada, Utah, and California. Their lending focus is mainly on commercial loans. They offer rates starting at ...
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C2 Financial Corporation is a Carmel, CA based private lender. They offer loans in 9 states throughout the US. They offer hard money loans for commercial properties, investment property loans, and fix and flip loans. Their ...
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