Fix & Flip Loans in Florida

Florida: A Top Choice For Fix & Flip Investors

Florida’s warm climate and lack of state income tax attract a steady stream of new residents, fueling demand for housing across various price points. The state offers a wide array of property types, from coastal condos to single-family homes, providing diverse opportunities for fix and flip investors

Understanding the competitive nature of Florida’s fix and flip market, ABL works closely with investors to navigate local regulations, permitting, and expedited closing processes. Our commitment to closing loans in 10 days or less ensures investors can act swiftly on promising opportunities, while our extensive local market knowledge provides valuable insights into the state’s most promising markets. Whether you’re targeting emerging neighborhoods or established communities, ABL’s expert funding team is ready to support your investment strategy with competitive rates and flexible terms tailored to Florida’s unique real estate landscape.

Fix & Flip Loan or Conventional Mortgage?

When you buy a residential property to rehab and sell, you have a variety of house flipping loans you can choose. The right one can make all the difference in how you fast you complete the project. Many people apply for a conventional mortgage or an FHA-backed 203k loan to provide the money they need to buy the property and fix it. Since these mortgages are generally targeted at owner-occupied properties, they emphasize credit rating and ability to pay the loan over time. This makes the underwriting process take much longer- up to several months.

By comparison, fix and flip loans come from a private money lender and primarily uses the viability of the project to determine eligibility. This allows loans to be approved quickly- as fast as 48 hours in some cases. The short-term loan is designed to get you the money you need at the exact time you need it. Investors get a lump sum to buy the property, then periodic draws to pay for work according to the project timeline. Terms for these hard money estate loans are usually different from conventional mortgages, with higher interest rates and larger down payments. However, there are no penalties for early payoff, allowing investors to finish their project quickly and move on to the next one!

Benefits of Hard Money Loans

Are you wondering how to get financing to flip a house? With several loan options available, it’s important to highlight the advantages of borrowing from a hard money lender to help you make an informed decision. Each real estate investment is different, so choosing the right loan can save you time, money, and headaches. If you’re interested in fix and flip financing, then hard money loans can offer you fast loan approval. Approval time can make the difference between funding your next success or missing an opportunity. Traditional loans can take up to several months, but hard money loans can take days! Hard money loans are flexible with credit scores and W-2 income by taking your property and plan of action into account, where bank loans are strict about the numbers they will accept.

Hard money loans typically have shorter loan terms, lasting 12 months with no early payoff penalty. The draw money is accessible quickly, as fast as three days from the time its requested, which helps avoid project delays. The flexible underwriting and steady access to funding allows investors to scale their business effectively and efficiently. Banks tend to avoid complicated renovation projects and private money lenders can get cold feet, so hard money lenders for flipping houses like Asset Based Lending are a reliable and affordable option.

Why Do Investors Choose Asset Based Lending for the Best Fix & Flip Loans in FL?

Our hard money loans offer the reliability of an institution with the speed and flexibility of a private money lender. We understand how much time and effort these projects take, so we work tirelessly to provide the highest quality service and advice to our borrowers. Our team of experts are always ready to discuss your project and determine your best course of action, which is why we have so many repeat borrowers!

We customize each loan to match your project, but every ABL loan includes:

• Preapproval within 24 hours of initial prequalification
• Closing within 10 days on average
• Flexible loans sizes from $75K to $10M
• No pre-payment penalties
• Fast draw turnaround
• Direct access to the decision-makers

With our competitive rates and knowledge of the local real estate market, we can help tailor fix and flip hard money loans that best suits your business.

When you are a serious real estate investor, you need fix and flip lenders that work as hard as you do. Contact us today and experience why Asset Based Lending is the best hard money lender.