First Time Flipping a House? No Problem, Park Place Finance has you covered! Park Place Finance works with First Time Flippers all the time, with over 17+ years experience in lending to help you every step of the way. Our loan process is simple, and we can assist in financing both the Purchase and the Renovation Costs of your first Investment Property Fix and Flip.
Want to hold the property after Renovations are complete? No Problem ,we have a 30 Year Fixed Portfolio Rental Loan Program once you’re ready to rent. Ask your AE about our DSCR products, or click on our DSCR page for more information.
At Park Place Finance, we believe in Transparency. Our Leverage and Rates are based on Risk and Experience. The more experience you have, the lower the Rates and the higher leverage we can finance.
Park Place Finance specializes in Investment Property Residential Real Estate and can fund various properties for your first property purchase (NOTE: If you are experienced, click our link above for more experienced details):
Park Place Finance eliminates junk fees and has straight-forward pricing when it comes to fees associated with closing your loan.
To close a Fix and Flip Loan at Park Place, there are a few basic items that you will need to submit to our team. Below is a general list of some of the requirements. Once you apply, you will receive a document portal for easy upload!
Close Fast (Typically 3-5 Business Days)
Competitive Rates (Rates from 10.99%)
Nationally Trusted (Over 1 Billion Funded!)
Fix and Flip Loans are designed There are a handful of options when it comes to financing an investment property. Loan types often differ based on their qualification requirements and the terms they offer. The best loan for you will depend on your individual needs.
With a fix and flip loan you can qualify for a short-term mortgage meant to help finance the purchase, repair, and renovation of a property, all within one simple loan.
It works well for real estate investors who need to move quickly to purchase a property that they can then flip to sell or flip to rent within an appropriate timeline, to make a profit. These short-term loans make it possible to afford renovations. When a project is completed, the loan can be paid back or refinanced into another loan type meant for a longer term.
Fix and flip loans also allow for more flexible qualification requirements because they don’t have to meet the documentation requirements that the Consumer Financial Protection Bureau sets for standard loans. Fix and flip loans rely on the profit potential of the investment property.
A fix and flip loan is a short-term loan that real estate investors can use to purchase and renovate a property.
YES! We love helping first-time flippers. In fact, many of our expert flippers started their first flip financing with us.. With over 4000+ loans closed, we are here to help you with any questions you have including budget reviews, property valuations, and profitability analysis. Our goal is to make your flip a financial success for you!
Yes! If you own your primary residence in the same state as the property, you can vest in either your personal name or an LLC. If you do not own your primary residence, we will need you to vest in an LLC. We can sell you an already created LLC that we have if needed.
Draws are easy and take 3-5 days to get reimbursed.
Yes. While you may vest in an LLC, and we do not report to credit, we do require you to personally guaranty the loan.
We enroll you into automated payments, but you can also login to our portal once you close to make payments via wire or online if needed.
The loan matures after your loan term, which means you will need to either apply for a loan extension with us, refinance the loan, or pay the loan off typically by selling the property. Generally, we extend loans to allow additional time assuming on time payments and progress is being made on the property. However, your goal should be to finish the project in as fast a time as possible.
Fix and Flip
Loan Amount: $364,000
Rehab Financed: 100%
LTC: 87%
ARV: 70%
Fix and Flip
Loan Amount: $228,000.00
Rehab Financed: 100%
LTC: 78.62%
ARV: 56.86%
