Fund That Flip
New York, New York
Our Minimum Loan Amount Is
$75,000
What We Do
- Residential Investment Properties 1-4 units
- Rehab & New Construction Loans
- Lending to Experienced Investors
- Up to 90% Loan-to-Cost
- 10%+ Cash Required for Purchase
Not Available
- NO 100% Financing
- NO Owner-Occupied Homes
- NO Raw Land
- NO Rural Areas
- NO Commercial Properties
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House Flipping Loans For Residential Real Estate Investors
We’re a lender for flippers by flippers.
Fund That Flip specializes in funding 1-4 family fix-and-flip projects. We are here to help you grow your business. We “get it”. We’ve originated more than $200 million on over 800+ properties. If you’re an experienced real estate investor and need reliable capital to grow your business, you’ve come to the right place. Making things easy for you is our priority, and we are here to walk you through every step along the way.
Please note: we require a minimum down payment of 10% of the purchase price, and we do NOT offer loans for owner-occupied home.
Property Geographic Area Details
We lend in 30 states: AL, AR, CO, CT, DE, FL, GA, IL, IN, IA, KS, KY, LA, MD, MA, MI, MS, MO, NE, NJ, NY, NC, OH, OK, PA, SC, TN, TX, VA, WV
Loan Amounts
$75,000 to $20,000,000
Interest Rates
8.99% to 12.99%
Max Loan-To-Value
70%
Max Loan-To-Cost
90%
Origination Fees
1% to 2.5%
Loan Terms
3 months to 18 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Use Equity to Invest in Another Property
- Value Add Project
- Development Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
Property Types and Loan Types
Collateral Types
- Residential Property
Property Types
- 2-4 Units Residential
- Single Family Residence
Loan Types
- Hard Money
- Residential Fix and Flip
- Residential Rehab and Rent
- Residential Ground-Up Construction
Purchase Loan
Max Loan-To-Purchase Price
90%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
noWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Subject Property
- Crowdfunding
- Family
Rehab Value Add Loan
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
2Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
3Maximum After Repair Value
75.00%Construction Loan
Development Experience Required
yesMinimum Number of Ground-Up Construction Projects Completed by Borrower
2Max LTC for Ground-Up Construction Costs
90%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
yesDetails and Requirements
Fastest Closing Time (Days)
2Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Pre Payment Penalty
no
Will lend to a foreign national
no
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
noWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
no
Borrower Entity Types Considered
- LLC
- Limited Partnership
- Trust
- Corporation
Documentation Required
- Bank Statements
- Loan Application
Personal Guaranty (Recourse) Required
AlwaysCredit Check Required
yesMinimum Credit Score Required
600Appraisal Required for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Residential Property
SometimesFees
Deposit Required
$500.00 to $7,500.00
Site Visit Fee
$100.00 to $1,000.00
*Fees subject to change based on number of draws - max 2 per month
Legal Fee
Fees which are paid to a third party company
- Appraisal Fee
Fund That Flip is a dynamic, fast-paced firm focused on raising capital for the short-term residential rehab loan market and online investing for peer-to-peer lenders. With offices in both New York City and Cleveland, Fund That Flip helps restore communities through its network of experienced, dedicated re-developers backed by a diverse base of institutional and individual investors.
We are technology, real estate and financial service professionals on a mission to create new opportunities for investors to take advantage of the positive returns real estate can provide. At the same time, we are helping re-developers access a new source of capital so they can focus on what they do best – finding and rehabilitating homes.
Company Size (Number of Employees)
54
Year Established
2014
Office Locations
Fund That Flip23 East 10th Street, New York, New York 10010
Primary Capital Source
- Own Funds
- Individual Investors
- Crowdfunding
Alternative Capital Sources
- Hedge Funds
Loan Structure for Majority of Loans
- Multiple Investor Fractionalized Note
Percentage of Loans Secured by Residential Property
100%
Total Number of Loans Funded to Date
1317
Total Loan Volume Funded to Date
$370,000,000
2017 Number of Loans Funded
226
2017 Loan Volume Funded
$56,200,000
2018 Number of Loans Funded
475
2018 Loan Volume Funded
$123,000,000
2019 Number of Loans Funded
460
2019 Loan Volume Funded
$150,000,000
Matt Rodak
CEO
Aaron Feldon
SVP, Capital Markets & Investor Relations
Jon Andrews
SVP, Sales and Client Service
Kendall Krawchuk
VP of Marketing
Alex Goodwin
SVP, Finance and Accounting
Chris Draudt
SVP, Operations
Dan Morena
CTO, Co-Founder
Paul McFadyen
Manager, Rental Loans
Our Minimum Loan Amount Is
$75,000
What We Do
- Residential Investment Properties 1-4 units
- Rehab & New Construction Loans
- Lending to Experienced Investors
- Up to 90% Loan-to-Cost
- 10%+ Cash Required for Purchase
Not Available
- NO 100% Financing
- NO Owner-Occupied Homes
- NO Raw Land
- NO Rural Areas
- NO Commercial Properties
646-503-5696