Are you frustrated because you cannot find funding for your rehab, fix and flip projects?
Now get equity financing fast without using any of your own money!
WSC Synergy Investments can provide COMPLETE financing for your rehab project up to BOTH the purchase price AND rehab costs!
**Damaged Credit and Past Financial Issues are OK!**
Do you find yourself thinking:
"I see so many good deals in the real estate market, but I need money to take advantage of them!"
Or wishing that:
"If I could just put my rehabbing skills to work, I could make a killing!"
If you have said this before, you are in the right place.
Do you want to purchase a property, rehab it, and flip it for a profit?
Are you an experienced rehabber or construction project manager?
If so, our specialty is providing short term funding–12 months or less–so you can buy a house, rehab it, and then flip it for a profit.
What You Provide:
Your team’s expertise
Your ability to accurately estimate repair costs
Your experience in rehabbing
Your management of the project
What We Provide:
The MONEY! Very few lenders will fund rehab projects because most lenders think it is a big risk. Most lenders will only lend after the rehab project is finished. But we LOVE rehab funding!
Two Ways We Can Fund Your Rehab:
Straight Interest Rate
If you can contribute a large down payment to the project, although you receive a slightly higher rate of interest, you do not have to share any of the profit from the deal. This option is for rehabbers who have enough cash to contribute 35% of the purchase price of the house and fund all of the rehab costs and closing costs on their own until the property re-sells.The interest rate of the rehab loan varies upon the deal, but the typical rate is 10-16%
When you do not want to contribute a down payment, we are willing to joint venture with you and by shouldering more financial risk and receive a lower rate of interest as long as we can share in the profit of the deal. Most of our clients choose this option because it allows them to leverage their cash reserves and do more deals. As a result, they can have more projects in process, keep their crews busier, and actually make more money overall. This option enables them to capitalize on the current market while it lasts.
What We Look For In Your Project:
Purchase price must be 75% Loan-to-Value or less based on the After Repaired Value
Loan is made for non-owner occupied properties only (i.e. this means that you will not live in the home and it will be sold after it is repaired)
The property must be a 1-4 unit residential property or commercial property
The property will be purchased to be rehabbed and then sold
The time frame from purchase to rehab to sale is 6 months or less
The property must be located in CA, AZ, CO, FL, GA, IL, MI, MO, NC, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA, WV
Although your personal credit will be considered in your application, as long as you can show that the After-Repaired-Value of the house is 75% Loan-to-Value or less, your income and credit are NOT the overall deciding factor of receiving funding. This is different than in the past. If you have had difficulty receiving rehab funding in the past because your credit was bruised, your time has arrived. You can often receive funding like never before!
Tips in Preparing An Initial Loan Package:
To speed along the approval of your loan, you need to provide some initial information to us. Here are the questions that we ask all our clients on a new project:
Your name, phone, and email address
The location of the property (city and zip code of the property)
Loan amount needed
Current property value
Estimated after repaired value
Estimated repair cost
Property type and zoning
Non-owner occupied while you own the property?
Other loans on property
Backup plan in case your original plan does not work out
We Make It Easy:
We have prepared an Initial Funding Questionnaire for you. All you have to do is CLICK below. After you complete it and send it in, we will contact you within 24 hours to go over your information. We can also send a FREE deal estimate.
Go ahead, what do you have to lose? Put your rehabbing and project management skills to work and get the funding you need to make a killing in this market.
How To Prepare a Complete Loan Package:
After you have submitted information for initial review, start gathering information so you are ready for Phase 2 of the review process. If you get prepared to answer the following questions, Phase 2 will go more quickly.
Who will be on title?
What are the positions of the loans?
How soon do you need the money?
Do you need a Proof of Funds letter? When?
Do you need the money for six months or less?
How did you determine the LTV?
How did you determine the ARV?
Can you help contribute to the deal financially? How much?
Would you prefer a lower interest rate by sharing some of the profit or a higher interest rate and sharing none of the profit?
Can you help us with any information that we might find on the credit report so we know the context of that negative information?
How many rehabs have you done in the last 2 years?
What is your primary and back up exit strategy?
What is the address of the property? Street address, city and zip code (Your information will be held with the most strict level of confidentiality)
Do you have other real estate you can use as collateral to secure your loan on this property?
What positions are the loans on these properties?