Fix and flip loans for Real Estate
Fix and flip loans for Real Estate: investors need adequate capital to purchase property as well as renovate existing properties before reselling them. However, most investors, more so those who have just stepped into the industry, find it hard to secure adequate finances to help them achieve their endeavors in the industry. If you have been one of these unfortunate investors in United States, then GoKapital would not mind helping you.
Headquartered in Miami Florida, we are a leading provider of fix and flip financing for novice entrepreneurs, experienced fix and flippers, and other real estate investors looking for financial support to help them fix and flip real estate property.
What Are Fix And Flip Loans?
As the name suggests, a fix and flip loan is a short-term credit or financing offered to real estate investors who are looking to purchase and renovate a property before selling it at a profit. The fix and flip loan limit depends on the current and the after repair value of the asset you are looking to flip.
Benefits of GoKapital’s Fix and Flip Loans
At GoKapital, our fix and flip loan is important for both new and experienced investors. As such, GoKapital is ready to provide a tailored financial plan for you whether you are looking to purchase your first real estate assets or renovate an existing asset. Below are some of the benefits you are set to reap from our fix and flip loan.
1. Our loan helps new entrepreneurs to compete with pro investors
Most novice entrepreneurs in the real estate industry fail to thrive since they lack adequate finances to compete with polished entrepreneurs in the fix and flip game. Moreover, new investors can hardly secure a bank loan, and if they are lucky to secure one, they get it at a high rate that minimizes their chances of making a profit.
Unlike the traditional lenders, GoKapital has better loan requirements and their loans are available at a reasonable rate. Typically, our rates range between 7 and 12 percent annually. Our relaxed financing program places you in a position to compete with established investors who have built enough equity, and our reasonable rates help you make a good profit.
2. Our fix and flip loan helps you invest in more property at a time
Some financially stable real estate investors think that they can rely on their capital alone when flipping. However, wise investors understand that fix and flip lenders can move them to the next step. For this reason, the investors take loans to invest in more property than they would have invested using their equity.
3. Quick approvals
Unlike the traditional banking system that can take months to finance you, GoKapital has fast approvals. In fact, we approve your loan application within minutes, and we can fund you for as short as ten days. In urgent financial situations, we can finance you within 3-5 days. Therefore, our fix and flip loan would be an excellent alternative when looking to buy property at short notice.
4. Little or no limitation
Conventional banks have strict regulations with some even dictating the type of property you can invest in. For instance, a bank can turn down your loan request if you are looking to buy real estate property in a dilapidated state. On the contrary, GoKapital can finance you regardless of the condition of the asset you are looking to flip.
5. Zero prepayment penalties
Most lenders will penalize you if you pay your loan before the maturation date. Unlike such lenders, GoKapital will never penalize you for paying your loan before the maturation date.
GoKapital’s Fix and Flip Loan Portfolio
GoKapital offers different real estate financing programs tailored to meet the unique financial and investment needs of the many customers they serve. We have discussed each financing program below to help you choose a plan that covers your financial requirements.
1. Commercial Mortgage Loan
GoKapital’s commercial mortgage loans are intended for flippers who deal with commercial and industrial property like warehouses, office buildings, commercial apartments, and shopping centers.
Like most of our loans, we can approve your loan request within one day. If the application goes through, we shall finance you within a period of 3- 10 days. The credit limit ranges within $50,000- $50 Million with a loan term of 6- 12 months.
2. Residential Loan
GoKapital’s residential loan is intended for real estate investors who specialize in residential properties like a single family and multi family property. Similar to the commercial mortgage loan, your loan request can be approved within one day, and the credit can be transferred into your account within ten days.
Depending on the property you are looking to flip, you can receive a loan amount ranging from $ 30,000 to $ 2 million. Usually, the loan term for this loan varies between 6- 36 months, but we can extend it to match your financial needs.
3. Hard money rehab loans
Also known as the fix and flip loan, this financing program is tailored for real estate investors who specialize in buying and flipping single or multi- family property, and commercial or industrial property.
Your loan application is approved the same day, and if the application is successful, GoKapital will finance you within fewer than ten days. Depending on the equity in the asset you are looking to buy, you can receive a loan amount ranging from $50,000- $50 million. Normally, the loan term is 6- 12 months, but we can adjust it to match your financial needs.
4. Foreign national loan
This type of financing is intended for foreign nationals who would want to invest in real estate properties like condo- hotels, luxury condominiums, single family residences, and townhouses. Unlike the other types of real estate financing programs discussed above, the foreign national loan’s term can range from 1- 30 years.
Some of the essential documents required to process this loan include:
• Copy of your government issued identity card.
• Proof of address.
• Personal tax returns
• Pay slips
• Your employer’s contact information.
• Copies of your latest bank statements.
5. Refinance loan
GoKapital’s refinance loan is intended for all real estate investors looking to refinance their existing loans. Like other real estate loans reviewed above, GoKapital will approve your application the same day. After the approval, we can transfer funds into your account within ten days.
Depending on your property’s value and the outstanding mortgage balance, you can receive a refinance loan amount ranging from $30,000- $2 million. The usual loan term is 6 -36 months, but we can extend it to suit your financial situation.
How to Apply For Our Fix and Flip Loan
Unlike most of the traditional lenders, our loan application is straightforward, we process pre approvals within minutes, and our credit requirements are flexible. Below is the simple loan application criterion:
• Online application
To start with, you will have to fill an online application form with some basic financial details used in the pre- approval process. Such information may include your experience in the fix and flip industry, the purchase price of the property you are looking to buy, the property’s after repair value, and its estimated cost of repair.
Moreover, we shall request for the location of the building, your credit score, your name, and contact information. The online application process can take an average of five minutes. If you are not comfortable with the online application process, you can call us, and one of our account executives will help you.
• Pre approval
After completing the online application, one of our account managers will evaluate your eligibility to receive a loan. If you are legible, the account manager will request you to proceed to the actual loan application process.
• Complete loan application
This process entails filling the actual loan application form and presenting the relevant copies of your identification and financial documents. After you complete the form, we shall finance you within ten days.
What makes GoKapital a Unique Financing Partner?
• We are conveniently located
At GoKapital, we believe that your residence should not lock you from receiving a loan. Unlike most of our competitors who serve only a few states, GoKapital serves the entire United States, Canada, and Puerto Rico.
• We offer free financial advice
Every real estate investor has different financial goals that he or she would love to achieve. This is the reason why our dedicated financial experts are always ready to offer sound financial advice that can move you closer to your goals.
Our financial experts can help you build an investment portfolio, boost your returns with tax efficient strategies, and draw many other financial strategies.
• We have flexible loan requirements
GoKapital was established with the primary aim of helping investors who lack adequate finances to grow and maintain their business. Unlike the majority of lenders who have strict financial requirements, our flexible fix and flip loans requirements provide an equal opportunity to foreigners, those with poor credit, and any other real estate investor who wishes to prosper in the real estate industry.