Weatherford, TX – Fix and Flip

The Opportunity

An investor who had completed one flip found a property in the town of Weatherford, Texas—just west of Fort Worth—as his next potential property. The three-bedroom, two-bathroom home had been on the market for nine months, and the investor was under contract to purchase it at $70,000 less than the original listing price. The 1955 build had original hardwood floors in the bedrooms but needed major updates and bathroom remodels.

The three-bedroom, two-bathroom home had been on the market for nine months, and the investor was under contract to purchase it at $70,000 less than the original listing price. His broker got an initial quote from his current lender, but realized that Lima One Capital offered much lower rates and fees on this kind of flip. So the broker connected the borrower to Lima One.

He wanted to try a new lender to finance the flip, so he contacted Lima One Capital to see what the fix and flip loan process and pricing looked like.

The Solution

Lima One financed this new customer with an interest-only fix and flip loan at 85% blended loan to cost leverage. This included financing 100% of the rehab budget with no interest charged on undrawn funds, and quick turnarounds on construction draws from Lima One’s in-house team.

The flipper is able to move forward on this property to capture the profit potential created by buying the property at a discount. And the broker earns her client’s loyalty by connecting him to a much better financing option through Lima One.