The house flipping market seems to be moving faster than ever. Opportunities are plentiful. Though success in getting started or dominating your market is still all about having the funding on tap. Don’t let those deals get away like a herd of gazelles. Let Wildcat Lending put a spring in your step and fund more deals, faster than the competition.
House Flipping Rates Leap in 2019
According to the latest statistics from ATTOM Data, the US home flipping rate has reached a new high in 2019.
The total dollar volume of homes flipped using financing hit a new 12 year high in Q1 2019, at $6.4B. Over 49k homes were flipped in the first three months of the year, for an average gross profit of $60,000 each. Flipping has been growing by double digits in many markets, with several Texas cities growing 41% to 55% year over year. House flippers have been making over 100% returns in at least five markets.
Roar into Action & Speed Up Your Game with the Lender That Makes Hard Money Easy
In order to stand out on the landscape and win more contracts, to get started or to scale to crush your new goals, it’s still all about the capital. The deals are there, the buyers are there, new technology is making the operational side easier than ever. It’s just about having the money to buy and rehab, and to fund them faster and more efficiently than everyone else.
This is where Wildcat Lending comes in.
Wildcat Lending is on a mission to make hard money and rehab loans extremely efficient, simple and effective for investors. They offer lighting fast funding, aggressive terms, and could help fund your next deal.
They can finance your flips, wholesale deals and even rentals.
What’s New with Wildcat
We tracked down Wildcat’s Chief Lending Officer Kevin Shipman to find out the latest on this lender.
Kevin says the lender’s recent expansion from Texas to Tennessee has been a huge hit, with new deals being funded there every week.
Kevin and his team’s outlook for the market remains very bullish, especially for properties at $300k and below. They see plenty of buyers for deals, and great performance on the loans they’ve been making.
What you might not know about Wildcat is that in addition to financing up to 90% of your house flipping projects, they do rental property loans, and they’ll finance 1-4 unit properties, including condos.
While many of their investors are experienced, Kevin says, “we love working with newbies.” It’s always exciting to help someone new get into the game and off the ground. So, if you’ve had trouble meeting the experience requirements at other lenders, consider trying these guys out.
Improving the lending experience and helping investors is something Kevin has been passionate about since school. He always liked numbers and was good at math. After getting his finance degree he started working at Wells Fargo and quickly moved up to management before striking out at the Senior Vice President of a community bank. Then being driven to create even more efficiency and better service for investors, he joined Wildcat.
When we say Wildcat is fast, we mean really fast, and it is one of the advantages that is helping them scoop up more market share. Kevin says they can close deals in as little as 24 to 48 hours. In fact, when another lender recently turned down a house flipper’s loan in the middle of a deal, Kevin’s team stepped in and got the file from start to closing in a ridiculously fast four and a half hours.
You’ll find lots of convenient features at WildcatLending.com, including:
● Online applications
● The ability to text a loan officer
● Rehab worksheets
● Draw request forms
● Online payoff requests
They’ve also teamed up with investor friendly title company Strike Title. A title insurance provider who gets investor needs, assignments, double closes, and a sense of urgency.
The Investment Property Loans You Want
Fix & Flip Loans
● Up to 90% Loan to Cost(LTC) or 70% of ARV the lessor of the two
● 6 month term with 90 day extension option
● Lender ordered ARV appraisal
● $50k+ loan amounts
● 1-4 unit homes
Rental Property Loans
● Up to 80% LTV for purchases
● Up to 75% Cash out Loans
● 24-36 month terms
● Rates as low as 8.99%
These loans are ideal for those taking on new income properties which may need some improvement and releasing before investors can season them for more attractive loan term financing. As well as for those who just don’t want to deal with the hassles of out of touch banks.
The Wildcat Lending Difference
● Wildcat currently charges just 2-3 points for hard money loans
● Funding for brand new and experienced property investors
● Same day loan approvals
● No income verification
● Modest credit scores accepted
● Everyone you speak to is a decision maker and able to make a common sense loan decisions
Summary
There is a relentless amount of real estate investment opportunities for income property investors, wholesalers and house flippers. The profit potential is incredible. If funding has been holding you back from your goals, get a hold of Wildcat and see what they can do for you.
Head over to WildcatLending.com where you can submit deals online and use their rehab budget worksheet to nail those numbers, or just pick up the phone and run your deal by Kevin now at 817.832.3451.
Kevin M. Shipman | Wildcat Lending, LLC. Chief Lending Officer
