Rehab 2 Rental
The rehab to rental process starts with the REHAB loan.
Submit your loan on the (LTV funding site)
you will need :
Then , once funded and a renter is put in place, the loan is refinanced into one of options for for long term financing.
***New - Soft Money loans - long term - take out hard money for your rental loans 9-10.5% 30 years
UP TO 75% ARV OR 80% OF "AS IS" (PURCHASE)
AS LITTLE AS 5% DOWN - B ASED ON ARV (if hard money used)
CROSS COLLATERALIZE OTHER PROPERTY - NO MONEY OUT OF POCKET
1. Loans for acquisition of foreclosures or distressed properties. (many will need repairs and quick closes , both of which banks will typically be unable to fund)
2. Loans for rehab (rehab 2 rental and flip) - that may include repairs, loans to LLCs and various entities.
3. Cashout loans on investment property , typically up to 70% LTV(case by case)