Orlando Fix and Flip Lenders

Rehab Financial Group, a private money lender, funded a $234,000 1st lien position fix and flip loan for a single-family home in Kissimmee, Osceola County, just south of Orlando, FL. The purchase price was $170,000. We funded 85% of the purchase while the Borrower contributed 15% cash. We funded 100% of the $88,660 renovation budget. The after-repair value was estimated at $360,000, so our loan-to-value was 65%. The subject property was approximately 1,300 square feet set in an 8,212-square-foot lot. The Borrower had good credit. They plan to sell the property as an exit strategy. The interest rate was 12.49% and we charged 3% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in November 2023. 

Easy Street Capital, a direct private real estate lender, funded a $273,000 1st lien position fix and flip loan for a condominium in Orlando, FL. We funded 80% of both the $330,000 purchase price and the $12,000 renovation budget, while the Borrower contributed 20% cash at closing. The after-repair value was $390,000 so our loan-to-after-repair value was 70%. The Borrower was a novice realtor with two current flips in the outskirts of Orlando, good cash reserves, and good credit. They will be doing a cosmetic rehab of the subject property with some servicing of the utility systems. The interior of the home will be getting new paint, carpet, an updated kitchen/bathroom, and new appliances. The exterior of the home will be repairing pool equipment and pressure washing. The subject property was approximately 1,467 square feet. The Borrower plans to sell the property upon completion of the rehab. The interest rate was 10.90% and we charged 3% origination points. The loan term was set at 6 months. This fix and flip loan was funded in May 2023.