4 Fix & Flip Loan Case Studies From Aggressive Lending

1) First-Timer Fix & Flip Loan Case Study

This first-time multi-family property investor previously only flipped single-family homes, but recently saw a phenomenal opportunity he couldn’t pass up with a 14-unit building in the Washington Park area of Chicago, IL. The current rentals are $600 for a 1 bedroom and $750 for a 2 bedroom. He is converting the 1 bed into 2 beds and will ask $1,250 per month. He is converting the 2 bedrooms into 3 bedrooms and will ask $1,400 per month when rehabbed.

Aggressive Lending Company was able to procure 70% of the purchase price and an additional $280,000 for the rehab project.

  • $597,000 Bridge / Fix & Flip Loan
  • 24 Hour Approval
  • 1 Year Term (Interest Only)

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2) Employee to Owner Fix & Flip Loan Case Study

This client wanted to purchase a convenience store he managed for years for $80,000. He needed the loan within 30 days, because the current owner of the store had another investor interested. This is too small of an amount to do a business acquisition loan and his credit was not sufficient to obtain an unsecured line of credit.

However, he had a commercial property that he had just purchased about 9 months prior that he was almost finished fixing up. The property was worth about $200,000 in its current condition and he only owed about $50,000 left on it. We were able to secure him $130,000 so we could pay off the current lender and he had an additional $80,000 leftover to then purchase this convenience store.

He went from making about $800 per week managing the store to making about $1,800 per week owning the store. He also still has the income from that commercial property at about $2,400 per month, so he has more than enough cash flow now to cover the fix and flip loan. His life will be forever transformed from this!

  • $130,000 Bridge / Fix & Flip Loan
  • 24 Hour Approval
  • 1 Year Term (Interest Only)

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3) Tapped Out Fix & Flip Loan Case Study

A Michigan developer wanted to jump on a huge opportunity to purchase 2 commercial properties and fix them up. These two properties were only about 40% occupied so they weren’t cash flow positive yet. Another big problem was that he currently had a $1 million construction project he was still working on and the local banks just didn’t want to extend any more credit to him.

The acquisition cost for the two properties was $625,000 and they needed another $100,000 for the rehabilitation necessary to get them fully occupied status. He needed a lending company to focus on the project at hand and ignore his global situation in order to make this deal happen. We looked at his past experience and payment history in order to approve the loan.

Aggressive Lending was able to secure him $469,000 of the purchase price and another $75,000 for the rehab work. He was able to move on the properties right away. When he is done with the rehab in about 6 months he already has renters lined up to move in and the property became a cash flow dream.

  • $544,000 Bridge / Fix & Flip Loan
  • 24 Hour Approval
  • 1 Year Term (Interest Only)

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4) In a Pickle Fix & Flip Loan Case Study

A general contractor custom built a luxury home and was set to close for $490,000, but at the last minute the buyer could not get the mortgage. He was in a very bad position, because he would always pay his sub-contractors at close and they trusted him to do so after a 30-year relationship working together. He did not want to lose the relationships he had built and was extremely embarrassed to be in this pickle.

Aggressive Lending came to the rescue and we were able to get him approved within 24 hours on a $343,000 loan to payoff his subcontractors. We closed within 3 weeks, everyone got paid and relationships did not sour.

  • $343,000 Fix & Flip Loan
  • 24 Hour Approval
  • 1 Year Term (Interest Only)

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Get Help With Fix & Flip Loans Today

 

If you need our help or just have a few questions to ask, our experts are here for you. Please call us at 800-975-1691 or fill out our short form and one of our team members will get back to you within 24 hours.

 

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