The house flipping market is booming. Neglected homes, houses that have been abandoned and other properties that are in decent condition but could benefit from a few cosmetic improvements can be found throughout California, Arizona, and Nevada. Smart investors are plucking up these houses, repairing them, and selling them for huge profits.
Where does the return on investment (ROI) of house flipping come from? Well, the first step is finding a house in a strong market that needs a minimal investment in order to generate a maximum return. Many home buyers will overlook homes with great layouts and solid foundations simply because they haven’t been well maintained. In some cases, hiring a cleaning crew, painting the walls, mowing the lawn, and cleaning the pool can significantly increase the value of a home. Of course, other repairs may be needed, and those improvements may be more costly. In these cases, you may need additional financing to complete the project so you can sell the property at the right price and achieve return on your investment.
But how do you find the capital to get started? Most traditional banks won’t offer loans to investors trying to buy houses that are in disrepair. The risks are too high, and the need for a quick approval process is out of most banks’ scope. That’s why many house flippers choose not to pursue loans through banks. Instead, they turn to rehab private money lenders.
Private money lenders offer rehab loans specifically designed to give house flippers the capital they need to purchase properties, make improvements, and sell for a profit. At Zinc Financial, we offer a variety of rehab loans for investors that vary depending upon their level of experience. Each of our rehab loans requires a down payment on the part of the investor to ensure a mutually beneficial relationship. Once this relationship is in place, Zinc Financial can provide financing within 7 to 10 business days. With investor rehab loans ranging from $25,000 to over $600,000, our company has the programs clients need to make improvements to their properties and achieve return on investment.
To learn more about our loan programs and easy application process, call 559.326.2509 x 114 today.