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Minneapolis, MN has 39 fix and flip hard money lenders serving the city. The mean note amount in the city is $295,500. Interest rates for loans average around 12.0%. The mean note issued in this city is for 15 months. The average loan issued in the city carries a 3.1 point origination cost. The median loan-to-value (LTV) for loans in Minneapolis is 72%.
Alexander finds a house in the Holland area of Minneapolis, MN to remodel and sell. Since he doesn't have enough cash to buy the $260,000 house outright, he takes out a fix and flip loan from Riverside Funding Corporation . The terms of the note include a 85% loan to value (LTV), so he must contribute 15% of the price as cash at closing, making the principle loan amount $221,000. The rate on the loan is 8% for a term of 12 months and the company requires a five point origination fee at the close. The interest is to be paid monthly and the principle will be paid back after the property sells.
The borrower must contribute a total of $32,400 up front to cover the $39,000 down payment in addition to the $11,050 origination fee. Once the loan closes, he will need to pay the lender $1,473 in monthly interest fees, or 8% times $221,000 divided by 12 months in the year. If Alexander sells the project for $364,000 after 12 months, he would realize a total profit of $75,270 after subtracting the original principle of $221,000, the funds contributed at the close of $39,000, the origination points of $11,050, and the aggregate interest payments of $17,680. This profit doesn't include renovation costs.
Kimberly takes out a loan from Blue Sky Finance Corporation so she can renovate a house to resell in the Harrison neighborhood of Minneapolis, MN. The deal has the following parameters:
a) A $200,000 sales price, b) a 55% loan-to-value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 3% origination fee.
If Kimberly achieves her goal of a $250,000 sales price, the final numbers of the project will be the following:
$250,000 sales price
- $110,000 note principle (55% LTV)
- $90,000 down payment (45% on 55% LTV)
- $3,300 origination points (3% of the $110,000 principle)
- $4,950 interest payments (6 months x 9% interest)
-----------------------
= $41,750 gross profit (doesn't include taxes or rehab costs)
1220 NW 50th St
Oklahoma City, OK 73118
Red Dirt Lending is an Oklahoma City, OK based private money lender. They offer loans throughout Minneapolis, St Paul, Oklahoma City, and Tulsa. They offer loans for a variety of needs and situations, including loans for rental ...
274 Madison Avenue, Suite 901
New York, NY 10016
A diverse portfolio of lending services, an experienced in-house underwriting staff, and the ability to tailor financing options to a client's individual needs have made Global Capital Partners a household name in New York's commercial lending industry. Global Capital Partners has long provided ...
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6.6 Billion life-to-date in total loan volume to real estate ...
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
10200 W. 44th Ave Suite 220
Wheat Ridge, CO 80033
Headquartered in Wheat Ridge, CO, Pine Financial Group is a private money lender offering loans in Colorado and Minnesota. They offer fix and flip loans, short term loans, and long term rental property loans. Their loan guidelines ...
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
7500 Old Georgetown Road, Suite 1375
Bethesda, MD 20814
Temple View Capital is private lender headquartered in Bethesda, MD. They provide loans in 20 states throughout the US. They provide short term fix and flip loans, cash out loans, private commercial loans, loans for rental properties, ...
3014 N. Hayden Rd Suite 115
Scottsdale, AZ 85251
Capstone Financial is a Scottsdale, AZ based hard money lender who provides loans all across the US. They provide lending solutions for a variety of needs and situations, including cash out loans, fix and flip hard money loans, short ...
1266 E. Main Street Suite 700R
Stamford, CT 06902
AJTM Financial Group is a Stamford, CT based hard money lender. They provide funding all across the US. They provide short term fix and flip loans and private commercial loans. Their loan guidelines are flexible, including ...
741 5th St
Sacramento, CA 95605
Flip Funding is an asset-based lender in Sacramento, CA providing funding across the US. They provide investment property loans, cash out hard money loans, hard money loans for commercial properties, new construction loans, hard money bridge loans, and ...
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
508 Whitehorse Mercerville Rd
Hamilton, NJ 08610
Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States. They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
2150 Coral Way | Suite 1A
Miami, FL 33145
Gokapital Mortgage is a Miami, FL based private lender who provides funding all throughout the US. They provide lending solutions for a variety of situations, including loans for rental properties, cash out hard money loans, fix-and-flip loans, hard money ...
4446 Hendricks
Jacksonville, FL 32207
Money Source of America is a Jacksonville, FL based private lender. They provide funding throughout the United States. They offer long term rental property loans, fix-and-flip loans, cash out hard money loans, ground-up construction loans, hard money bridge ...
407 Lake Street East, Suite 201
Wayzata, MN 55391
Headquartered in Wayzata, MN, Renovo Capital is a hard money lender providing funding in Minneapolis, St Paul, Duluth, St Cloud, and Rochester. They offer fix-and-flip hard money loans, hard money refinancing, and ground up construction loans. ...
4601 Excelsior Blvd., Suite 309
Minneapolis, MN 55416
Capital Lending Group is an asset-based lender in Minneapolis, MN offering loans throughout Minneapolis and St Paul. They offer loans for many different situations, including fix-and-flip hard money loans and new construction loans. Their loan guidelines are versatile, ...
10700 Highway 55 / #320
Plymouth, MN 55441
Headquartered in Plymouth, MN, Hard Money LLC is a private lender offering loans in Minneapolis and St Paul. They offer lending solutions for many different situations, including commercial hard money loans, short term fix and flip loans, and ...
7801 E. Bush Lake Road, Suite 430
Minneapolis, MN 55439
CCM Finance is a small team of real estate investors with over 300 properties and many years of experience as Carpathian Capital Management. They specialize in private real estate loans for fix and flip projects as well as new ...
Minneapolis, MN
Hendrie Grant is private lender headquartered in Minneapolis, MN. They provide funding in Minneapolis and St Paul. Their focus is mainly on fix and flip hard money loans. Their loan parameters are versatile, including terms ...
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
1101 W Mineral Ave. #101
Littleton, CO 80120
Hard Money Mike is an asset-based lender headquartered in Littleton, CO offering loans in Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They provide lending solutions for a variety of situations, including commercial hard money loans and fix ...
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
9465 Counselors Way, Suite 200
Indianapolis, IN 46240
Rental Home Financing is a private money lender headquartered in Indianapolis, IN offering funding in 26 states across the country. They provide lending solutions for a variety of scenarios, including refinancing, fix-and-flip loans, and loans for investments properties. ...
1010 NE 2nd Ave
Miami Beach, FL 33132
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
1101 W Mineral Ave. #101
Littleton, CO 80120
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
18851 NE 29th Avenue, Suite 1000
Aventura, FL 33180
ICG10 Capital is private lender headquartered in Aventura, FL. They offer loans in 44 states throughout the United States. They offer loans for many different scenarios, including short term loans, buy and hold loans, short term fix ...
4360 Chamblee Dunwoody Rd, Suite 208
Atlanta, GA 30341
Based in Atlanta, GA, Hallmark Funding is a hard money lender providing funding throughout Alabama, Georgia, Florida, Minnesota, South Carolina, Tennessee, and Wisconsin. Their focus is mainly on fix-and-flip loans. Their lending guidelines include a ...
207 Mockingbird Ln, #402
Johnson City, TN 37604
Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
11 Middle Neck Road Suite 314
Great Neck, NY 11021
Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...
201 East McBee Ave, Suite 300
Greenville, SC 29601
Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US. They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...
445 S. Figueroa Street, Suite 3199
Los Angeles, CA 90071
Source Capital is an asset-based lender headquartered in Los Angeles, CA offering loans in California, Arizona, and Minnesota. They provide loans for a variety of situations and needs, including bridge loans, fix-and-flip loans, hard money refinancing, and ...
3435 Wilshire #1840
Los Angeles, CA 90010
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...
100 Lanidex Plaza
Parsippany, NJ 07054
Stratton Equities is the Nationwide leading hard money lender. We are passionate about helping small business owners, contractors, and Real Estate investors, swiftly and efficiently finance their investment goals. We customize our hard money loan programs for each unique project ...
6991 E Camelback Rd
Scottsdale, AZ 85251
Next-Financing is based in Scottsdale, Arizona and has a satellite office in Silicon Valley, California. They offer a wide array of financing options for businesses, including fix and flip loans and loans for rental properties. They lend on ...
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
1995 North Park Place SE, Suite 415
Atlanta, GA 30339
Investor Rehab Funding is hard money lender headquartered in Atlanta, GA. They provide loans in 40 states throughout the US. They offer fix-and-flip hard money loans, private refinancing, investment property loans, and new construction loans. ...
807 E South Temple, Suite 200
Salt Lake City, UT 84102
Black Square is a hard money lender based in Salt Lake City, UT providing funding all throughout the United States. They offer lending solutions for a variety of situations, including bridge loans, fix and flip hard money loans, ...
4705, 2121 Park Pl #250
El Segundo, CA 90245
PeerStreet is a private real estate lending platform based in El Segundo, California. They do not typically make loans directly to investors, but rather they source loans from local investors and offer a secondary market for funding these loans. ...
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