When it comes to fix-n-flip financing, the best way to understand a lender’s solutions is to see them in action. We at Silver Hill Capital are committed to sharing these stories so you can quickly get a sense of our programs and the benefit they may present for your Franchise.
Enough with the product sheets and presentations already! When it comes to fix-n-flip financing, the best way to understand a lender’s solutions is to see them in action.
The good news for us at Silver Hill Capital, LLC is that we have a growing number of success stories involving HomeVestors® Franchisees just like you. We’re committed to sharing these stories (with your permission!) so that you can quickly get a sense of our programs and the benefit they may present for your franchise.
Closing in Santa Rosa, CA
The Basics:
- Loan Purpose: Purchase and rehab
- Loan Amount: $406,000
- Renovation Amount: $75,000
- ARV: $580,000
- Term Length: 6 months
- LTC: 100%
- LTV: 70%
The Background:
Throughout the HomeVestors® Annual Summit, Franchisees stressed the importance of reliable and fast closings for their fix-n-flip loans. That was certainly the case for Ian Scanlon of First Action Properties LLC, a relatively new Franchisee based in the Bay Area of California.
Ian’s next flip was a 1015 sq. ft. single family home in Santa Rosa that was in foreclosure at the time.
The Challenge:
Ian faced the same financing challenge many newer Franchisees face: fewer lending options that provide 100% financing.
Ian also faced a looming deadline. With the property in foreclosure, he had to close by October 12 or he would be in serious risk of losing a great buy.
The Silver Hill Solution:
Despite the borrower’s relative lack of investment experience, Silver Hill was able to finance 100% of the purchase price and rehab on the transaction. That’s because we make 100% LTC available to all HVA Franchisees, regardless of their experience.
Most importantly, Silver Hill made it possible for Ian to meet his closing deadline. This was no simple feat thanks to a last-minute municipal lien related to an overgrown yard that came on title at the closing table.
Ian went on to complete a beautiful renovation of the property, which is now back on the market with a list price that is sure to make this a big win for his business.
The Recap:
The fact that this transaction included a tight deadline and last-minute surprises shouldn’t surprise Franchisees – nearly every deal includes twists and turns.
No, the key takeaway here is that the Fix-N-Flip team at Silver Hill was able to help a Franchisee overcome those hurdles and execute on his investment strategy.
Is it your turn?
Take the next step with our dedicated lending team and see how focused we are on creating a positive lending experience for you and your business.
