Episode Details
Back to EpisodesHow to Get Financing to Fix-and-Flip or Buy-and-Hold Properties
Description
Kevin Rodman joined Asset Based Lending as a partner in 2014 and brings 30 years' experience in the mortgage industry to the ABL team. Along with Dan and Paul, Kevin is one of ABL's three loan underwriters. Kevin is leading ABL's expansion in New England, with a focus on Connecticut and Massachusetts. Kevin also works on building ABL's strong capital base, which is one of the largest in the hard money lending industry.
During the show we discuss:
● What hard money lending is and how it works
● How to easily and quickly get money to fix-and-flip homes
● What to know about draws when it comes to flix-and-flip financing
● How to transition from fix-and-flip to buy-and-hold
● How to qualify for flix-and-flip financing
● What you'll need to get approved
● How to get approved and hours and funded in 2 weeks or less
● How much of your own money you need to put into the deal to get funded
● How to take on multiple loans and properties at the same time
● The types of terms you can get on flix-and-flip financing
● How to get financing for 30 years to buy-and-hold
● How to get approved and fund with little money down
● How to get fix-and-flip type financing for new construction
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