Denver, CO House Flippers Use Bridge Loans To Get Things Done
Fix and flip projects look easy, when you are watching them on our favorite do-it-yourself cable network. What those shows do not show viewers is how hard it is to get the right financing for a project. Denver, CO house flippers are using bridge loans to take care of the more immediate expenses involved in their projects, and sidestepping the red tape of traditional lenders in the process.
Time Is Of The Essence
When larger financing is still being processed, there are still time-sensitive expenses which must be met. If the funding is not present to pay for immediate costs such as closings, acquiring permits, scheduling contractors and more, a simple fix and flip project can get delayed and become a money pit. Bridge loans are designed to help Denver, CO house flippers keep their projects on track.
How Bridge Loans Work For Fix And Flip Projects
Bridge loans can be arranged quickly so that Denver, CO house flippers have access to the funds they need, while larger financing is still in the pipeline. Because no two fix and flip projects are like, bridge loans can be customized to fit the size and scope of each individual project. The bridge loans can be used to cover immediate costs, and then a portion of the larger financing can be used to pay off the bridge loans.
Denver, CO House Flippers Use Bridge Loans From Start To Finish
Many house flippers tend to place all of their focus on property acquisitions and construction. Denver, CO house flippers go one step further and use bridge loans to prepare houses for sale, as well. A portion of the funding from bridge loans is typically used to get temporary furniture and decorations in order to stage the house for showing it to potential buyers. Staging a house gives it a greater appeal than an empty house, because buyers get an idea of how they would make it their own, and greatly increases the chances of selling a home on the first showing.
Get The Right Financing For Your Next Fix And Flip Project
Strato Capital Solutions provides commercial real estate financing with Denver, CO house flippers in mind. Our bridge loans can be arranged quickly, with the best terms and rates in the area, so you can keep your project on track without having to put things on hold while you wait for loans to process. Contact our offices today to learn more.
Contact Us Today!
T: (303) 258-7520
F: (303) 471-6001
5445 DTC Parkway, Penthouse 4
Greenwood Village, CO 80111
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