Exploring the exciting world of real estate investment is certainly not for the passive or casual investor, but for those who are interested in putting in the work and doing their research, purchasing a “fixer-upper” property can yield incredible results. If you’re searching for a property that is just waiting to be taken to its highest potential and turned from a house to a home, then consider fixing it up and and flipping it.
You’ll want to start by looking into market data, exploring neighborhoods, and keeping up with where the next up-and-coming spot is in the area. The aim of an renovation and resale project is to transform a home that needs a significant makeover and receive a great ROI or return on investment. If you’re curious about how you can get started on this path but aren’t sure what financial options are available to you, consider reaching out to a Movement Mortgage lender. Through their expertise, they’ll be able to advise you on your best loan options, including their Fix & Flip Program, designed for investors who are in the business of buying distressed homes and repairing them for resale.
Movement Mortgage’s Fix & Flip Program Rundown:
- Options available for ALL levels of investor experience
- 660 credit score required
- Available for non-owner occupied, single-family or multi-family properties with up to 4 units
- Purchase loan amount is up to 85% of cost, depending on investor experience
- Construction loan amount is up to 100% of cost, depending on investor experience
- Total loan amount is up to 85% of total cost (max after repair value LTV 70%)
- 12-month loan term with interest-only payments
For more information, reach out to trusted Movement Mortgage lenders Jolene Messmer, Carese Busby, or Rick King.
