People love the flexibility in line of credit programs for fix and flip commercial properties. You can have the cash you need to finance unpredictable expenses, while at the same time, avoid over-borrowing for your project. Commercial Mortgage Depot (CMD) can help you finance your next investment property sale through our Fix and Flip Lines of Credit for sites in New York, New Jersey, Connecticut, and Pennsylvania. Our team in Clifton, NJ is here to tell you more!

Finding the Right Fix and Flip Investment

To profit from and grow your business, you need to find just the right investment to fix and flip. Focus on buildings or lots that are not terribly expensive to begin with. Many end up buying mixed commercial and residential spaces for upgrade and marketing as higher end condos or apartments. Up and coming neighborhoods are the perfect target for a for a fix and flip investment. You will usually find the costs to be more reasonable, in addition, buyers are eager to move in and take advantage of the growth in the area.

Selling Your Fix and Flip at the Right Price

Many businesses can profit from fixing and flipping; however, you need find a property at right price and turn it into a worthy investment. Creating a property that is too expensive may slow down your sale. While you are waiting to sell, you often pay steep holding costs. If this happens, try listing the property at a slightly lower value to entice buyers and speed up the sale. If you want to understand how much you will get from your investment, start with how much you think you’ll earn and then deduct construction, selling, and closing costs.

Terms for Fix and Flip Lines of Credit

At Commercial Mortgage Depot, we lend to good borrowers and can provide great financing terms. Below are some of our details:

  • Available for one to four family Properties.
  • Purchase & Rehab expenses eligible.
  • Lending for Single Purpose Entities (LLC of Corp.) (No Trusts).
  • Highly competitive interest rates.
  • Loan terms of up to twelve months.
  • Loan to Values of up to 85% LTC and up to 65% ARV.
  • Reasonable third-party processing and underwriting fees.
  • Approval for minimum credit scores of 650.

Considerations for Your Investment Property

Many people do fix-ups to turn the property into a profitable investment. There are many considerations that come with fixing and flipping a commercial site. You will need to consider whether you need a specialized team or not.  If you do need to hire talent, you will need to consider what sort of skills you want to bring. You can also consider whether you can handle the responsibilities of being the project manager.

Commercial Mortgage Depot is offering some great low rates for fix and flip lines of credit in New York, New Jersey, Connecticut, and Pennsylvania. Contact our Clifton, NJ team today for a no-hassle quote!

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