Our Solutions

 Fix & Flip

 

Are you a real estate investor looking to fix and flip a home?  If you need assistance in acquiring, rehabbing, and selling a home quickly for the best profit, Redmond Funding Group is here to help.


Our fix and flip loans are unique. We finance both the acquisition of the property and the cost of rehabbing the home so you can get your finished project on the market quickly.


We provide straightforward access to your financed construction funds as work is completed because we know that you need that cash quickly to pay your subs and suppliers.


Construction Draws: Our customers have told us that RFG truly out shines the competition on draws, It’s an easy and straightforward process and they appreciate our quick response to draw requests, the fastest disbursement of draw funds in to your account, and the common sense approach to administering your rehab loan.

 

Typical Financing Scenario

Acquisition Price:                         $500,000

Remodel Costs:                           $100,000

Total Cost of Acquisition:         $600,000

Less Down Payment (15%)*          ($90,000)

Loan Amount:                            $510,000

With the closing of your loan, RFG sets aside the $90,000 construction budget for future disbursements as work progresses. The funds are wired directly to you. Assuming that the project stays within budget, typically the only out-of-pocket cash required by the borrower is for the monthly interest payments, utilities, and other non-loan related carrying costs.

  • Typical down payment is 15%, but it can vary based on the property, the location, and the borrower’s financial strength.