Fix and Flip

Fix and Flip

  • Minimum request $100,000

  • Up to 90% of the PP 

  • 70% to 75% LTV 

  • 100% renovation.

  • 1.5 to 3.75 Points

  • 5.99% to 11.99% Interest 

 

We can close as fast as 4 to 10 days once we have all the documents.

Minimum request $100,00

 

Up to 75% of the Purchase price.

 

 

Fix and Flips are a staple of the Real Estate Investment industry. Whether you have 10+ deals experience, or no experience at all.

 

Term: 1 Year w/ a 6 Month Extension Option

 

Loan Amounts: $100,000 to $3,500,000

 

(Up to$7,500,000 Case by Case.)

 

Residential 1-4 Units + Townhomes, No Condos.  

 

 

Important Details: 

 

Sponsors must pay 1 Year of Property Taxes and 1 Year of Insurance at close of escrow. 

 

Sponsors with little to no experience must place 10% to 20% Loan to Cost as a contribution into the deal at close of escrow. 

 

Project Cost is determined by the Purchase Price of the subject property, plus the hard constructions costs, along with some soft costs. 

 

Simple 1 page draw request form. 

 

Sponsors must have 10% to 20% of the construction budget as liquid reserves. 

 

Reserves do not come into Escrow. Reserves sit in the Sponsors account. 

 

Sponsors must have 6 months reserves of the proposed new mortgage payment. 

 

Sponsors must have a 660 FICO Score or higher w/ No Derogatory Credit on file. 

 

Construction Budgets that exceed the Purchase Price are OK.

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Type of Loan Needed:

Disclosures:

By attending this website (www.expediahomes.com), any visitor is hereby expressing and/or accepting: 

This is not a commitment or offer to lend, this website is for informational purposes only.  Interest Rates, Fees, and other important or minor details are subject to change based on market conditions, due diligence, and input by underwriting. If your project is approved, a formal loan commitment will be issued. Time frames for each portion of the process vary due to market conditions and other factors like third parties. By visiting this website, the visitors hereby agree on behalf of the visitor’s company / business entity along with sponsors, co-sponsors, officers, and/or investors, to hold harmless Expedia Homes,  LLC, www.expediahomes.com , investors, employees, officers, and/or third party subcontractors in the closing of any transactions. Third party reports are ordered at on a cost plus review basis. Expedia homes, LLC cannot guarantee nor influence values, or other specific important and/or minor conclusions, along with the time frames to complete third party reports. Some projects require a project feasibility, and may or may not require traffic studies or other individual reports as required by specific subject property locations and market conditions. Expedia homes, LLC does not pay for third party reports, third party reports are billed via invoice that must be paid at presentation. Time is of the essence, and even though Expedia homes, LLC works tirelessly to maintain quick closing times, there are factors outside of the control of Expedia homes, LLC, along with other conditions, that do not always allow the projected time frames to be maintained.  Brokers and/or referral sources are protected, thus Expedia homes, LLC honors Broker Invoices or Referral Fee Agreements that are submitted in writing. Expedia homes, LLC only accepts new client files from brokers, if you have a further transaction, please see your introducing representative. Expedia homes, LLC  is a private source of capital, therefore your information will not be shared with the general public on any marketing information. 

Expedia Homes, LLC is a limited liability company out of the State of Nevada. Expedia Homes, LLC both directly provides funds and also brokers requests that cannot be funded in house. Expedia Homes, LLC does not operate in any state or local area whereas the laws of that state or local are prohibit cost effective operations. Expedia Homes, LLC is a private company, not open for the public. Expedia Homes, LLC does it’s best to analyze and review all proposed transactions, but cannot possibly analyze, review, and take interest in all transactions that are presented. Rates, Fees, and other minor or important details are subject to change with or with out notice. No warranties are granted, nor should be implied. 

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