Purchasing a real estate property, repairing & selling it fast tends to be a money-making recipe. However, a crucial point of this recipe to success is access to capital. If one doesn’t have adequate funds but is keen in rehabbing a property, a hard money lender who provides fix and flip loans in California could be an excellent financing alternative. These loans are configured in such a manner that let a purchaser to quickly attain the property and have access to a reserve of funds for construction & renovation costs.

There’re innumerable benefits of fix and flip loans and the demand for this source of financing is slowly rising in the real estate investment industry. Getting approved for a fix & flip loan is a rather quicker process when compared to conventional banking system. If the borrower has surrendered the requested documents, a private fix and flip lender can approve the loan inside a couple of days whereas a conventional banking facility can take a minimum of one month to approve the loan.

Properties in varying states of the condition can be eligible for a fix and flip loans. Whether the property is bank owned, a short sale, a foreclosure, or in a dilapidated state, a borrower is still expected to find a hard money lender willing to fund the deal. Once again, a borrower mayn’t have the option of funding these types of real estate opportunities with a bank. Banks are pretty risk averse & have strict rules in place as to what type of property they can accept as part of their loan portfolio.

“When you purchase a property with the intention to flip it, a dramatic portion of your budget will be spent on construction & renovation costs. A fix and flip lenderin California will generally set up a loan reserve which will cover repair costs of the property in addition to interest. This can ease out a lot of stress & pressure for builders and developers since they don't need to be worried about spending money out of pocket for repairs or payments” said a spokesperson for ACA Lending.

About the company:

All California Lending is California’s leading fix and flip lender who is specialized in rehab lending program so suit borrower’s need. Visit here - https://www.acalending.com/rehab-lending-california/